Don’t let financial speculation prevent you from making tax-free gifts to or for the benefit of your loved ones. The three main types of tax-free gifts are annual exclusion gifts, medical exclusions, and education exclusions. 1. Make Annual Exclusion...
Have you heard of a life insurance trust? This estate planning strategy gives you more control over your life insurance benefits.
So, you've created your trust, established a pour over will, and named your trustees. After all that time, effort and cost, surely you're all set, right? Not quite.
When I went to law school, I knew that I wanted to become a tax lawyer. So I took all the tax courses I could, and after law school, I went to work in the tax department of the...
If you were not born into an affluent family or you did not marry an individual of “means”, chances are that you worked for a number of years to build income and eventually, wealth. After you have attained wealth,...
Last time we spoke about Estate Planning, Wills and Powers of Attorney, the WGN phones lit up and Bill Moller couldn’t get to but a fraction of the calls. Listen in to questions from Part Two with Bill Moller...
Effective July 1, 2011, Illinois enacted a new power of attorney law that better outlines the rights and responsibilities of those acting as your agent and the responsibilities you transfer to someone to act on your behalf. Powers of...
I was honored to meet Bill Moller as I talked with him about Estate Planning over the 4th of July weekend. (Click here to listen to our interview!) Speaking on the radio can be intimidating, especially when the studio...
Many people are being lulled into complacency thinking they don’t have to update or do estate planning because exemptions are so high that there is ‘no’ tax issue. This may not be quite true for two major reasons. One:...
Sometimes, our parents stand in the way of helping themselves. We ask about their estate plans, health care concerns, continuing care issues and the response is almost universally the same. They say they are not losing control, they don’t...