Category: Estate and Gift Tax

In Illinois, the executors of estates that are worth more than $4 million are required to pay an estate tax. This means that even though an estate isn’t large enough to owe the federal estate tax, which is currently set at $11 million, it may still be required to pay state taxes to Illinois. Valuing […]

Estate and Gift Tax – Is your IRA Protected from Creditors? Provided By: Alan G. Orlowsky When we talk about Estate and Gift Tax and the world of asset protection, it has long been believed that retirement accounts, including Individual Retirement Accounts (IRAs), are not subject to the claims of creditors. However, a recent ruling […]