trust planning 65 day rule

65 Day Rule Benefit for Trustees and Their Beneficiaries March 5, 2020 is the last day to take advantage of the 65 Day Rule. It’s not too late to take advantage of planning opportunities for certain trusts for 2019 tax filings. Irrevocable Trusts that do not require the trustee to make distributions of income to…

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One of the most important parts of the financial planning process is estate planning. Many people mistakenly believe that estate planning is only necessary for the wealthy.  In reality, a basic estate plan is essential for everyone in order reduce uncertainty, eliminate unnecessary costs, and reduce stress for loved ones after a death. Estate Planning…

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As we approach year end, it is important to review how your family may be impacted by an Illinois tax that does not receive much media attention: the Illinois estate tax. Illinois is one of twelve states to have its own estate tax separate from the federal estate tax. Estates that are exempt from the…

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