312.583.9430
Our blog
Stories and interviews
Subscribe to learn for helpful articles, solutions, and Bielski Chapman, Ltd. updates.
Recent blog posts
-
What Happens If the Executor Fails to Act in Illinois Probate?
: What Happens If the Executor Fails to Act in Illinois Probate?The executor has a lot of responsibility to manage an estate through Illinois probate. If they fail to do their duties, it can have consequences. Beneficiaries can suffer and the executor may be liable for their failure to do the job correctly. The skilled estate planning lawyers at Bielski Chapman, Ltd. help you manage the…
-
Gifting Strategies to Reduce Estate Taxes in Illinois
: Gifting Strategies to Reduce Estate Taxes in IllinoisKnowing the right way to gift can help with estate taxes later on. This helps preserve your wealth for the next generation. Federal exemptions are high for estate taxes, but Illinois’ is significantly lower. This means that, without proper planning, you could face a steep estate tax burden in the future. The skilled estate planning…
-
How to Handle Out-of-State Assets in an Illinois Probate Case
: How to Handle Out-of-State Assets in an Illinois Probate CaseIf someone you loved passes away, they may own property in more than one state. This makes probate a bit more complex. For those who own vacation homes, accounts, or other assets outside of Illinois, you may have to deal with the probate and estate laws of another state. The right planning now could help…
All blog posts
-
What do you do when you’ve lost a trust? You go back to basics: the elements of a trust, and when all else fails, probate! A Short Story About a Client Who Lost a Trust We had a case where a client’s mother (let’s call the mother Betty Smith) had deeded her home into trust…
-
When my dad was diagnosed with Parkinson’s, my parents were living in my childhood home in Wilmette, and they had a modest life savings. In the course of sharing my dad’s diagnosis with friends and family, one thing they kept hearing was how expensive Long Term Care would be; the cost could completely drain their…
-
Listing your Chicago property on Airbnb may seem lucrative, but if you’re not careful, it can cost you. Homeowners who want to list their property must be careful to avoid penalties by paying attention to the restrictions in the Chicago Shared Housing Ordinance and their building’s governing documents. The restrictions are noted below, along with…
-
Estate Planning for Property Transfers to a Non-Citizen Spouse
: Estate Planning for Property Transfers to a Non-Citizen SpouseAs a general rule, spouses can transfer an unlimited amount of property to each other without paying tax on the transfer.[1] The rule includes transfers made upon death.[2] The so-called “unlimited marital deduction” delays taxation on the transfer of property until it is transferred out of the marital unit. The rule applies to US citizens as well…
