Due to the pandemic and the resulting economic downturn, applicable federal rates (AFRs) set by the IRS are still low, so now is a great time to take advantage of some advanced estate and gift tax planning options. Learn how to use an Intentionally Defective Grantor Trust (IDGT) to transfer assets while minimizing estate tax implications. Authored by Steven Kriz
Earlier this month, Chicago Department of Public Health Commissioner Allison Arwady, M.D., issued an Emergency Travel Order directing travelers entering or returning to Chicago from states meeting certain benchmarks indicating a surge in new COVID-19 cases to quarantine for a 14-day period from the time of last contact within the identified state.
Since the first order was issued, several states have been added to the list and it continues to be updated. The Emergency Travel Order presents unique issues for employers and community associations. Our LP attorneys continue to monitor developments, and are available to discuss any specific concerns you may have as a result of the travel order.
For more resources and LP's response to COVID-19, visit this webpage.