Learn about the areas of overlap and differences between federal and Illinois estate tax law. Learn about challenges you might face if you have no federal estate tax but have an Illinois estate tax. The discussion will also include issues with establishing or changing domicile, structuring an estate plan to minimize Illinois estate tax, and questions you should ask your clients to avoid future Illinois estate tax problems.
Originally presented as part of Gift & Estate Tax Workshop: Forms 709, 706 & 8971 2025.
Credits: 1 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 0 Other PR
Expires 11/01/2027
A hypothetical fact situation will be presented which includes a decedent’s estate with a living trust, retirement plan, life insurance, and sample forms 1041, 706 & 709. Throughout the day, we’ll examine how various decisions will result in specific tax consequences and how to prepare Forms 706 & 709 to effectively handle those consequences.
Stuart J. Kohn, Levenfeld Pearlstein LLC, Chicago
Learn about the areas of overlap and differences between federal and Illinois estate tax law. Learn about challenges you might face if you have no federal estate tax but have an Illinois estate tax. The discussion will also include issues with establishing or changing domicile, structuring an estate plan to minimize Illinois estate tax, and questions you should ask your clients to avoid future Illinois estate tax problems.
Lauran L. Stevenson, Chapman and Cutler LLP, Chicago
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
