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Plain-English articles on estate planning in Illinois.
Pay the School Directly and It Is Not a Gift
Tuition paid straight to a school and medical bills paid straight to a provider are not gifts, in any amount, and they shrink an Illinois estate.
October 21, 2026
The Most Expensive $1.36 Million in Illinois
Illinois estates between $4 million and about $5.36 million pay about 28.6 cents on the dollar, nearly three times the rate above that band.
October 7, 2026
Do You Need a Trust Protector? What the Role Does and When It Matters
If you’ve set up or are considering an irrevocable trust in Illinois you may have heard of a trust protector. It’s a practical planning tool that Illinois families are adding to their trusts. Whether you need a trust protector is a decision made in consultation with an experienced estate planning attorney. Understanding the role of
September 21, 2026
Illinois Medicaid Look-Back Period: How Asset Protection Planning Interacts With Long-Term Care Costs
The biggest threat to a lifetime of savings isn’t taxes or the stock market for most people; it’s the cost of long-term care. A retirement nest egg can be wiped out quickly by a multi-year stay in a nursing home that costs $9,000 per month. Medicaid can cover those costs, but only after an applicant
September 21, 2026
Dynasty Trusts: Protecting Wealth for Grandchildren and Beyond in Illinois
A dynasty trust is a rare estate planning tool built to last for generations, shielding assets from estate taxes, creditors, and divorce settlements at each generational transfer. While a typical trust usually terminates once the beneficiaries reach a certain age or the assets are distributed, a dynasty trust can hold and grow wealth indefinitely. An
September 7, 2026
Illinois’ Estate Tax Has No Portability; Why That $4 Million Exemption Per Spouse Can Quietly Disappear
Many in Illinois assume a married couple shields double the amount from estate taxes when they die. While that’s true at the federal level, it is often not the case in Illinois. Although there is an effort afoot to change Illinois’ estate tax law, residents currently must rely upon a comprehensive estate plan created with
September 7, 2026
What Happens to Your 401(k) or IRA If You Die Without Naming a Beneficiary?
Filling out a beneficiary form is standard practice when opening a 401(k) or IRA retirement account. Most Illinois residents never give it another thought, but that form carries significant importance. When you die, retirement accounts pass according to the beneficiary designation on file with the plan or custodian, not according to instructions in a will .
September 4, 2026
Medicaid Planning and the Five-Year Look-Back Period in Illinois
When a loved one’s savings runs low, Medicaid becomes the primary way that many Illinois families provide nursing home care. Qualifying for this federal financial benefit is not as easy as spending down a savings account a month before applying. Under federal law, state Medicaid agencies review an applicant’s financial history. Understanding how this look-back
August 26, 2026
Annual Gift Tax Exclusion: How Much Can You Give Without Filing a Return?
Many people assume that any generous gift comes with a tax bill attached, either for the giver or the recipient. In reality, federal law lets most people give away substantial sums every year without owing a dime in gift tax or even filing paperwork. Understanding the annual exclusion and how it interacts with Illinois’s own
August 26, 2026
Irrevocable Life Insurance Trusts: Keeping Life Insurance Out of Your Taxable Estate
Most people buy life insurance to protect their families, only to discover the policy can create a tax problem. If you own your policy outright, its full death benefit is added to your taxable estate when you die, even though the payout goes directly to your beneficiaries. Illinois residents must realize that the state’s low
August 26, 2026
Trust Administration 101: What Trustees are Legally Required to Do
Being a trustee means managing someone’s estate after they die. But what does that really mean? The information you are provided may not clearly define the limits or expectations of your role. An experienced estate planning attorney can describe your legal and financial obligations as trustee, as well as the consequences for falling short. It’s
August 10, 2026
Digital Assets After Death: What Happens to Your Online Accounts and Passwords in Illinois
When deciding how to pass on their estates when they die, most people consider their real estate holdings, retirement accounts, and vehicles. But what about their email inbox, social media accounts, Venmo records, and crypto wallets? Digital assets are commonplace now, so when working with an experienced estate planning attorney, a full accounting of your
August 9, 2026