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Is Gift Tax Due Immediately Upon Making or Receiving a Gift? For 2019, the annual gift tax exclusion set by the I.R.S. is $15,000 per person making the gift, and per recipient.  Married couples can gift double that amount...

How to Fund a Trust If you have had a trust drawn up for estate planning, it is important that you verify that your trust is properly funded. Ensuring that assets are either in the trust or transfer to the trust upon your...

Real Estate Attorneys Beware: Do Not Revoke Prior Powers of Attorney In a real estate transaction in Illinois, it is common practice now for buyers and sellers of residential real estate to name their attorney as power of...

What Are the Capacity Requirements to Execute Estate Plan Documents? If you have a loved one suffering from Alzheimer’s, dementia, or cognitive issues related to a stroke, mental illness, or other disorders, it is important...

What is a UTMA Account? If you have minor children, you may have heard of a UTMA account. UTMA stands for Uniform Transfer to Minors Act, and it governs how the money of a minor should be handled for the minor’s benefit....