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May 2017 Archives

New legislation could eliminate estate tax issues for farmers

A politician in Illinois is pushing for updates to a law that he says compromises local farming families. The legislative improvements would be designed to address estate tax issues that could cause problems for agricultural legacies in the state. Reports show that Illinois is one of the most antiquated states when it comes to inheritance tax for agricultural operations and land transfer after death. A new proposed bill would repeal the older laws, allowing the state to join the majority of other jurisdictions throughout the nation.

Types of forms you need in your estate planning file

What types of documents do you need to have on file with an estate attorney? Estate planning can be a challenging topic, largely because so many clients are unaware of the major benefits that can come along with creating the right estate protection. Do not be caught unaware at your end-of-life stage. Instead, enlist the help of a qualified attorney to help you achieve your estate planning goals.

Constructive trusts move assets to victims

You have probably heard of the various types of trusts in Illinois, including irrevocable and revocable trusts, many of which are used in estate planning. Did you know that there are other types of trusts, some of which are created specifically by the courts? One example is constructive trusts.

Why every executor needs a probate and estate attorney

Getting named as an executor to someone else's estate is a dubious honor (and sometimes not worth what is agreed by the parties or allowed as a fee by the Probate Court). It means that the person who passed trusted you to fulfill his or her wishes, which reflects well on your character. There can be a lot of work that comes with managing an estate. The same is true if someone names you as a trustee for an estate or end of life trust.

Man facing estate litigation after selling photography negatives

A beneficiary of a famous Illinois woman's estate is facing legal charges after he allegedly sold negatives of the woman's high-value street photographs without court approval. The man is reportedly taking a stand against the public entity that is overseeing the estate litigation, saying that a government entity should not be in charge of her stunning collection of photographs. This is just the latest legal speed bump to be hit by the woman's estate representatives after she reportedly died nearly penniless in 2009.

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