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Recent Articles from our Legal Resources Section

  • What is a Fraudulent Transfer in Illinois?

    What is a Fraudulent Transfer in Illinois? The term “fraudulent transfer” refers to a transfer of property which is made for the purpose of deceiving a creditor and inhibiting the creditor from collecting a debt owed. An example of a fraudulent transfer would be the following: Day 1: An individual has $200,000. Day 2: A…

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  • What is the Estate Tax?

    Understanding Estate Taxes in Chicago The federal estate tax is a tax on property that passes from a deceased person’s estate to their heirs. This tax affects only the wealthiest families in America. This is because the current law (Tax Year 2017) excludes the first $5.49 million of an estate from estate tax ($10.98 million…

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  • Types of Claims against an Illinois Probate Estate

    Types of Claims Against an Illinois Probate Estate A probate claim refers to a claim for money, or other property, that someone has against the estate of a deceased individual. If the individual owed money during his or her life, then that debt remains, and it is the responsibility of the decedent’s estate to pay…

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    Common Asset Protection Issues

    Common Asset Protection Issues in Chicago In our asset protection practice, we often encounter clients who come to us after it is too late for us to help them. The cardinal rule of asset protection is that the planning must be put into place well before there is a claim against you or any of…

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