Estate Planning

The lessons of Kraft

• Illinois Appellate Court holds Illinois can’t tax trust under due process clause—In Linn v. Department of Revenue (2013 Ill. App. (4th) 121055), an Illinois Appellate Court held that a trust wasn’t subject to Illinois...

Practitioners need to understand the complex regulations to complete the necessary items

Under Revenue Procedure 2014-18, taxpayers who meet certain criteria can simply file an estate tax return

The governor has proposed new rules

An estate can collect these fees—but only if it meets two requirements

Ruling creates planning opportunities to minimize income taxes