HolmstromKennedy

by: J. Joseph McCoy The Tax Cuts and Jobs Act (TCJA), which became effective on January 1, 2018, has some significant implications for estate planning. The first article in this series, which can be found here, focused on the increase to the federal estate tax exemption. This article describes the effect of the new law on […]

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May 16th, 2018

Posted In: Trusts & Estates

By: J. Joseph McCoy The Tax Cuts and Jobs Act, which became effective on January 1, 2018, has some significant implications for estate planning. The focus of this article, which will be the first of a multi-part series, will be on the change to the federal estate tax exemption. Under the new law, the federal […]

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February 21st, 2018

Posted In: Trusts & Estates

Content Editor: Maryjo F. Pirages Reynolds Original Author Credit: Allison M. Huntley Trustees have numerous responsibilities surrounding trust administration. These duties range from filing tax returns to distributing trust assets. If the trust requires the trustee to distribute more than $4,000 worth of assets to a charitable organization, the trustee may be required to register […]

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August 10th, 2016

Posted In: Trusts & Estates

By: Michael Jon Shalbrack Illinois recently adopted rules and regulations in connection with the Deficit Reduction Act of 2005 (DRA), which will directly impact planning for nursing home and long-term care for family members under Medicaid. These new rules, effective as of January 1, 2012, will likely make it more difficult to become eligible for Medicaid […]

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January 18th, 2012

Posted In: Trusts & Estates

By: Michael Jon Shalbrack An important part of the estate planning process includes the use of Durable Powers of Attorney (“POAs”), both for health care and property.  POAs give someone else (the “agent”) the right to make decisions for you (the “principal”) or act in your place under certain circumstances.  At a minimum, we suggest that […]

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July 21st, 2011

Posted In: Trusts & Estates