847-490-5330 |
law@rowleylaw.net |
2300 N. Barrington Road, Suite 400, Hoffman Estates, IL 60169

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Estate Tax Planning

Hoffman Estates, IL Estate Planning Law Firm


photo: Estate Tax Planning

There are millions of American men and women that have paid income taxes their entire lives. Upon passing, they do not want to pay further estate tax. However, most people don't really understand estate taxes; when they are owed and how to reduce or eliminate owing the tax. Many confuse probate avoidance with estate tax avoidance and falsely assume that if their assets are set up to avoid probate, they will avoid estate tax as well.

Add to that confusion, the fact that federal estate tax laws have been in flux for years and a new federal estate tax law was just recently made effective. Much information on how to avoid the estate tax is now out dated and misleading as it applied to a different era. For instance, evaluating capital gains owed is now just as critical a component of planning, as evaluating estate taxes. In addition, the rules and laws are complex and there is no "one size fits all" rule. Estate Tax and Capital Gain avoidance and/or reduction planning depends on analyzing many factors including: predicted growth of assets, capital gains, gifting, types of assets, titling of assets, state residency, qualifying exemptions, gross estate analysis, and other factors.

Rowley Law utilizes state of the art technology to analyze potential capital gains and estate tax owed by you or your business. Then your legal provider at Rowley Law presents a plan with various options to achieve lowering or eliminating taxes.

Some of the options discussed and offered are:

  • Annual Exclusion Gifts
  • Life Time Gifting
  • Credit Shelter Trusts (A/B Trusts and Marital Trusts)
  • Personal Residence Trust
  • Grantor Retained Annuity Trust and Grantor Retained Unitrust
  • Charitable Remainder Trust
  • Irrevocable Life Insurance Trust

In order to lower or eliminate taxes owed, clients should visit the legal providers at Rowley Law for a complete consultation and analysis to determine the best solution for the client. Everyone's assets and goals are different, so the providers at Rowley Law can develop a plan that is personal and fits the client's family or business. The goal is to help reduce or eliminate taxes to the point that the client feels positive about their hard earned money or business going to who they want, and not to pay tax.

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Rowley Law

2300 N. Barrington Road, Suite 400, Hoffman Estates, IL 60169

Phone: 847-490-5330

Email: law@rowleylaw.net

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