Northbrook Estate & Gift Tax Planning Lawyers
Illinois Estate Planning Law Firm
Estate and gift tax planning can be a complicated and overwhelming process for many people. Federal and state tax laws are complex and confusing, with different exceptions and exemptions available. Fortunately, good estate planning tools can be used to protect your assets from excessive estate and gift taxation. The knowledgeable Northbrook estate and gift tax attorneys at The Wochner Law Firm focus on providing clients with comprehensive estate planning advice, including advice on ways in which they can minimize potential estate and gift taxation.
As experienced Illinois estate planning attorneys, we are well-versed in the various legal documents that can serve as estate planning tools to minimize estate and gift taxes. For instance, we frequently help clients with the following:
- Generation-Skipping Trusts (Dynasty Trusts), also known as Heritage Trusts
- College tuition and medical expense payments for grandchildren
- Gift tax exemptions
- Charitable giving
- Annual gifting
- Property title transfers
Because the laws and requirements regarding the above-listed estate and gift tax planning techniques are complex and nuanced, it is important to seek the advice of a knowledgeable Illinois estate planning attorney, like those at The Wochner Law Firm, as well as the necessary financial advisors. With more than 35 years of experience helping clients navigate their estate planning options, we are able to provide the legal advice and counsel that you need, and we will consult with the appropriate financial experts, as necessary.
Our knowledgeable Chicago-area estate planning attorneys frequently work with high net worth clients and the owners of closely-held or family businesses in order to ensure proper business succession and to minimize the potential taxation on business asset transfers.
Trusts, including dynasty trusts and living trusts, remain one of the most common estate planning tools to minimize estate and gift taxation. In addition, a number of other trust options exist, such as: grantor-retained annuity trusts (GRATs); irrevocable life insurance trusts (ILIT); sale to a defective grantor trust; and education or special needs trusts.
Whatever your particular situation or circumstances, we can explain the estate planning options that make the most sense for you. We pride ourselves on providing personalized client service and attention to individual client needs. Advanced estate and gift tax planning is instrumental to maintaining the net worth and financial well-being of your family members and beneficiaries. At The Wochner Law Firm, our trusted Northbrook estate planning attorneys can help you develop a comprehensive estate plan in order to do so.
Contact The Wocher Law Firm at (847) 272-7360 to schedule a free consultation to learn more about how our Chicago area estate planning attorneys can help minimize the impact of estate and gift taxes on your estate.