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.
Compensation for Family CaregiversBy Margot GordonMay 2010Article, Page 256Custodial claims enable family members who cared for a now-deceased relative to be compensated for their years of unpaid or underpaid caregiving. Here's how it works.
The Illinois QTIP Election to the RescueBy Robert J. KolasaDecember 2009Article, Page 612Big news for estate planners - the new Illinois QTIP lets clients use the full federal exclusion without Illinois estate tax consequences.
Winning at Darwin’s GameBy Katarinna McBrideAugust 2009Column, Page 420Survivor-style challenges and opportunities confront estate planners.
Five Wishes: “zero cases of litigation”June 2009Column, Page 274We're flattered that authors Koenig and Hyde ("Be Careful What You Wish For: Analyzing the Five Wishes Advance Directive," IBJ May 2009) pored over our document, and as would a law student studying a model contract, found areas that might-could-maybe-potentially become a problem.
Illinois Estate Tax Planning in 2009 and BeyondBy Gary R. Gehlbach and Emily R. VivianFebruary 2009Article, Page 80Beginning this year, the gap between the Illinois and federal estate tax widens. This article discusses the implications and makes the case for an Illinois QTIP.
Medicaid Planning in Illinois: Are You Ready for the DRA?By Kirsten IzattNovember 2007Article, Page 586The Deficit Reduction Act of 2005 requires estate planners to devise new ways to protect the assets of clients who face long nursing-home stays. Illinois hasn't implemented the law, but it will.