Estate Planning and the American Taxpayer Relief ActBy Stephen M. Margolin and Lindsey Paige MarkusFebruary 2014Article, Page 92Thanks to ATRA, a married couple with a properly structured estate can pass more than $10 million free of federal estate tax. But beware income and state-estate tax consequences.
Bump in social security benefitsDecember 2013Illinois Law Update, Page 612The allowance for aged, blind, and disabled recipients of supplemental security income (SSI) recently increased from $519.90 to $531.90. 89 Ill. Adm. Code 113.
Estate Planning for Clients Who Don’tBy Regina RathnauMarch 2013Article, Page 138Even when clients resist comprehensive estate planning you can help them better prepare for the inevitable.
Real Estate and Avoiding Probate: The Case for Land TrustsBy David J. LanciottiFebruary 2013Article, Page 86While both land trusts and transfer on death instruments allow residential real estate to transfer outside probate, the land trust has important advantages for some clients, this author argues.
Making Gifts Can Reduce Illinois Estate TaxesBy Robert J. KolasaDecember 2012Article, Page 646Recent Illinois legislation established higher estate tax exclusion amounts. Learn how clients can use gifts to substantially reduce Illinois estate taxes.
Paying for Long-Term Care in IllinoisBy William Siebers and Zach HesselbaumOctober 2012Article, Page 536There are five ways to pay for long-term care in Illinois. This article discusses all five and brings you the latest on the ever-shifting Medicaid and Veterans' Administration rules.
New Long-Term Care Medicaid Rules Finally Come to IllinoisBy Diana Law and William SiebersJanuary 2012Article, Page 30Effective January 1, Illinois finally brought its Medicaid rules for long-term care into compliance with federal requirements. The new rules make it harder for Illinois long-term care recipients to protect their assets while preserving Medicaid eligibility. Here's what you need to know.
The Transfer on Death Instrument Comes to IllinoisBy Charles G. BrownDecember 2011Article, Page 618Effective January 1, Illinois law gives your clients a convenient way to transfer residential real estate outside of probate. Here's a review of the new law by one of its drafters.
Looking at 2011 and BeyondBy Mary Cascino and Katarinna McBrideNovember 2011Column, Page 584A late-2011 look how recent rulings should influence your estate-planning advice.
Illinois Estate Planning in Uncertain TimesBy Steven E. SiebersSeptember 2011Article, Page 448What happens if the federal estate tax exclusion goes back to $1 million? What are the implications of decoupling the Illinois from the federal tax? A look at these and other questions.
Planning for a Civil LifeBy Katarinna McBrideAugust 2011Column, Page 421Illinois' civil union law presents opportunities and challenges to those who advise same-sex couples.
Mind the gap: Illinois taxes estates over $2 millionBy Helen W. GunnarssonFebruary 2011Lawpulse, Page 66Illinois' new estate tax kicks in at $2 million, not $5 million like its federal counterpart. That creates some estate-planning challenges for Illinois residents.