What is Estate Planning?

December 06, 2019

In the most general sense, estate planning is a process that ensures that the people and things important to you are treated in a manner you would approve of, both while you are living and after you are gone. Planning isn’t limited to financial assets, real estate, and personal possessions. It’s much broader than simply… Read more »

Asset Protection Case Do’s and Don’ts

November 19, 2019

As you make plans for your estate, there is a possibility of running into issues protecting your assets. When this happens, you have to create a plan for asset protection to avoid them being seized by creditors. When you make this protection plan, there are steps to take and things to avoid ensuring it works… Read more »

Why You Need Representation at Tax Court

November 05, 2019

Going to tax court is never anyone’s first choice. When you go, it’s natural to be afraid of what the financial consequences might be. Some people are so afraid, though, that they seek to save money anywhere they can – and this sometimes includes trying to represent themselves. The Chicago IL tax law firm of… Read more »

What’s Involved in Estate Planning?

October 22, 2019

Estate planning begins when you clarify and define your goals. Typically, your estate planning attorney and other advisors will need to gain a deep understanding of your core values and beliefs, and the dynamics of your family. Some things your advisors might ask include: What is important about planning to you? What do you hope… Read more »

Hit with a Tax Audit? We Can Help

October 22, 2019

No one ever wants to hear from the Internal Revenue Service regarding a tax audit, but the truth is audits actually occur more regularly than many taxpayers realize. Audits can assuredly generate apprehension for the person being audited, especially when a questionable return has been filed, but the best response is always to respond appropriately… Read more »

Illinois Department of Revenue Announces Tax Amnesty Program

October 10, 2019

By Elizabeth Morataya The Illinois Department of Revenue announced the implementation of the Illinois Tax Delinquency Amnesty Act beginning October 1, 2019. This amnesty program provides relief to Illinois taxpayers that have incurred eligible tax liabilities stemming from the period between July 1, 2011 and June 30, 2018. The taxpayers that pay their eligible tax… Read more »

Why an Offshore Trust Dispute Should Involve an Attorney

October 08, 2019

A trust dispute typically involves beneficiaries and trustees. There are various types of disputes in trust cases, which means that Chicago estate planning attorneys are necessary when conflict arises. Many attorneys are familiar with domestic trust disputes where all parties are in the United States. What happens, though, when an offshore trust dispute arises? You… Read more »

Transitioning Wealth

September 24, 2019

Building business value and establishing family security are not separate tasks, but parallel goals that are intimately related and must be addressed simultaneously. We are talking about using business prosperity to provide family security in a tax-efficient way. In this blog you will learn more about transitioning wealth through business succession. Most of My Wealth… Read more »

What is Philanthropic Planning? Why Do I Need a Lawyer?

September 17, 2019

Individuals who have vast wealth often want to do something for their communities, which is usually best accomplished through philanthropic giving to specific charities by way of establishing either a trust fund or a foundation. However, trust funds can be complicated financial instruments with significant legalities associated with the use of assets. Trusts and foundations… Read more »

Wealth Preservation: What You Should Know

September 03, 2019

Building wealth is difficult, but preserving wealth is even harder. As frivolous lawsuits continue to happen every day in America and aggressive creditors are running rampant by taking frequently illegal actions to boost their bottom line, wealth preservation can become a complicated landscape unto itself. The reality is that in today’s legal climate, efficient wealth… Read more »

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