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July 20, 2010

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Estate Planning Resources

The best way to inform yourself about Chicago Estate Planning Law and Estate Planning related topics. Our Estate Planning Resource Center includes the following sites for your personal use.

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Did You Know?

A "Family Limited Partnership" can be used to own and manage your property
In a similar manner to a Trust, but allowing additional tax planning techniques to be employed. Family Limited Partnerships are typically used for those who have large estates and thus have a need for specialized estate planning in order to minimize federal and state estate/death/inheritance taxes as well as provide elements of asset protection.

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	Latest news about Financial & Estate Planning in Chicago and nationwide: Estate Planning – Considering a Second Marriage Late in Life “As the life expectancy of people in the United States increases, the reality of second and third marriages becomes more likely even for those who ... Read more > Attorney General Takes Action Against Estate Planning Company Attorney General Hardy Myers today warned older Oregonians about being targets of "living trust mills" and announced the filing of a court action a... Read more > Health Care Power Of Attorney In addition to a Health Care Power of Attorney, another document, known as a Living Will, is used to plan future health care choices. The Health Ca... Read more > More Estate Planning News >

Estate Planning Terms

Today's Terms

Estate

Definition:
The total of all assets, all debts and other obligations of an individual. At the time of death the total amount of benefits (life insurance, annuity and retirement benefits) to be paid to beneficiaries are often also considered part of the estate for Federal Estate Tax purposes

Gain

Definition:
The difference between the Tax Basis (the amount originally paid for property with certain adjustments) and the amount received for the property when it was sold.

Federal Estate Taxes

Definition:
Taxes imposed by the US Government on the value of a person's estate upon his or her death.

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Estate Planning Resources

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Estate Planning Hot Topics

Topics Related to Estate Planning:

Trusts
Wills
Uniform Probate Code
Gift Tax

Chicago Estate-Planning Attorney

If you live in the following cities and need an Estate-Planning attorney you should contact our Estate-Planning Attorney as soon as possible:

Arlington Heights
Aurora
Bartlett
Berwyn
Bolingbrook
Buffalo Grove
Carol Stream
Chicago
Chicago Heights
Cicero
Des Plaines
Elgin
Glenview
Granite City

Harvey
Joliet
Lockport
Lombard
Mchenry
Moline
Mount Prospect
Normal
Oak Lawn
Palatine
Plainfield
Tinley Park
Waukegan
Wheaton

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