• Robert J. Kolasa

Wrapping Your Head Around the Illinois Estate Tax

Updated: Mar 28

Finally! In the July 2019 issue of the Illinois Bar Journal, I published an authoritative guide on the Illinois Estate Tax. The article explains the peculiarities of the tax and the considerable changes in strategies for estates subject to Illinois estate taxes ($4 million exclusion), but not federal estate taxes ($11.4 million exclusion). Also presented is the mathematical framework to analyze wheter gifts reduce Illinois estate taxes, optimal credit shelter trust (CST) funding techniques and whether it is advantageous to force estate tax inclusion of CST assets. Included are several helpful calculation tables showing various estate-planning outcomes. Hit Wrapping Your Head Around the Illinois Estate Tax to read this informative article

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