What to Expect When Selling an Inherited Home
December 20, 2019An inherited house is a great gift from a departed loved one. If you have decided to sell it, then you should familiarize yourself with the financial and legal steps required to do so. Selling the home and keeping the proceeds may not be as straightforward as you think. Working with Chicago estate planning attorneys… Read more »
What is Estate Planning?
December 06, 2019What is Estate Planning? Learn the Basics 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… Read more »
Asset Protection Case Do’s and Don’ts
November 19, 2019As 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, 2019A Brief Explanation of Why You Need Representation at Tax Court Do you have a dispute with the IRS that’s headed to tax court? Don’t try to take on the IRS on your own. You need to work with tax lawyers in Chicago like Anthony J. Madonia & Associates. Legal representation at tax court is… Read more »
What’s Involved in Estate Planning?
October 22, 2019Get to Know the Particulars of Estate Planning and What is Involved Estate planning begins when you clarify and define your goals. But what is involved in estate planning. 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… Read more »
Hit with a Tax Audit? We Can Help
October 22, 2019What to do if you get hit with a Tax Audit? No one ever wants to hear from the Internal Revenue Service. Especially unwelcome is a call 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. Audits… Read more »
Illinois Department of Revenue Announces Tax Amnesty Program
October 10, 2019Illinois Tax Amnesty Program 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… Read more »
Why an Offshore Trust Dispute Should Involve an Attorney
October 08, 2019What to Do in an Offshore Trust Dispute? Call A Lawyer 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… Read more »
Transitioning Wealth
September 24, 2019Transitioning Wealth – Some Thoughts to Consider Building business value and establishing family security are not separate tasks. They are 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… Read more »
What is Philanthropic Planning? Why Do I Need a Lawyer?
September 17, 2019Philanthropic Planning – Where to start? Why Do I Need a Lawyer? Philanthropic planning goes further than an estate plan. It’s a representation of who you are and what you believe in, so take the time to think it through with specific goals to create a lasting legacy. Individuals who have vast wealth often want… Read more »