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How is Debt Treated in Probate? When a person passes away with debt, administration of the estate can be confusing for the family. On the one hand, you may have a will or trust that directs the distribution of assets to the...

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...

What Type of Ownership is Best For My Home? If you are purchasing a home in Illinois this season, you may have been asked how you want the home to be titled. There are many different types of real estate ownership. The major...

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...

How To Transfer Car Title After Someone Passes Away For many people, cars can be significant assets of their estate. Upon passing, the family will have to determine how to transfer ownership of the car to a family member or...