Understanding Estate And Gift Taxes

From time to time the rules regarding estate and gift taxes change. Many people in Illinois fear that there is little that can be done to avoid or reduce estate taxes. They may tend to put off putting together an effective estate plan over fears and misconceptions about so-called death taxes. In reality, most people are not adversely impacted by estate taxes.

For high-asset families who have potential estates that will exceed the Illinois and federal estate tax exemptions, the lawyers at Zapolis & Associates, P.C., in Mokena draw on more than 36 years of experience to prepare effective strategies to preserve wealth, pass along the family business and minimize the impact of estate taxes to the greatest extent possible.

Do You Need To Worry About Estate Taxes?

The Illinois estate tax exemption is currently set at $4 million dollars. For many middle-class families the exemption covers the entire estate, eliminating the concern. Federal law provides a larger estate tax exemption. We will review your complete financial structure, including any potential business valuation issues if you run a family business, and craft a tailored estate plan to help you protect your legacy during life, and after you pass away. We will explain how the law applies to your assets, and provide honest advice on how to accomplish your goals without unnecessary add-ons. Our goal is to achieve effective estate planning results to efficiently and affordably serve your goals.

The Experience You Need In Complex Estates

No asset structure is too complex for our seasoned estate and gift tax attorneys. We have a strong command of the wide-variety of estate planning instruments that can reduce the impact of estate and gift taxes. In high-asset households, we will explain all of the available options to minimize the effect of state and federal taxes. We always aim to create the best strategies to directly address the goals of clients, with the least financial impact on the estate to preserve legacies.

Get A Free Consultation To Learn More

To arrange a free and confidential consultation with a down-to-earth estate planning law firm in Mokena, contact us online or call 708-390-8936. Weekend and evening appointments are available by request.