Chicago Accounting News

Where do I begin to plan my estate? There are three parts of this that are consistently difficult in estate planning. A customer has to face their own death. The process is quite complicated and confusing. A customer has to … Continue reading →

Splitting the estate basically means that each individual member of the marriage has their own estate. This means that the estate tax credit, below which you are not subject to estate taxes, simply doubles. This also means that the assets … Continue reading →

Probate is nothing more than the orderly transition of assets per the instructions of a Will. This process used to be a nightmarish, but it has been simplified. Many estates, if they are put together properly and are uncontested, can … Continue reading →

There are three common mistakes: Not finding someone who is capable of managing the business We’ve all seen instances where the person who took over the business was simply incapable. This is certainly one of the saddest experiences that a … Continue reading →

The problem here is making sure that your assets actually go to your heirs, rather than being sold to cover estate taxes. Most people don’t want their life’s accumulated assets to go to the government in taxes. Let’s use an … Continue reading →