Skip to main content

News & Updates

A Closer Look at Gift and Estate Taxes


October 5, 2020

Read Time

1 minute


A critical part of any estate plan assessment involves a closer look at the potential transfer taxes. The following is a description of the current gift and estate taxes that apply to Illinois residents or non-residents with Illinois property. The chart below describes federal and estate transfers taxes, when they are payable, and any exemptions available. Depending on the value and nature of your estate, you may want to consider adjustments to your estate plan.

For additional information:

Attorneys in the Estate Planning Group at Levenfeld Pearlstein can guide you through the process and provide recommendations on maximizing the benefits of various estate planning structures. Contact us here.

Filed under: Trusts & Estates

March 15, 2023

U.S. Supreme Court FBAR ‘Dose of Common Sense’: Penalty Per Report

Read More

January 11, 2023

The Gift, Estate, and GST Tax Exclusion Increased by an Unprecedented $860,000 in 2023: How You Can Make the Most of It

Read More