Tag Archives: 2015
2015 Estate Tax Summary
Previously I wrote summaries of estate and gift taxes for 2013 and 2014. As with last year, the changes this year are primarily inflation adjustments. The unified federal estate, gift and GST tax exemption rose from $5.34 million in 2014 to $5.43 million in 2015 (big fun for those who like to transpose numbers!)…. Read More »
New Illinois Small Estate Affidavit Coming in 2015
A significant change is coming to the small estate affidavit form and procedure in Illinois. On August 1, 2014, Governor Quinn signed into law an amendment to the Small Estate section of the Illinois Probate Act (755 ILCS 5/25-1) that changes the small estate affidavit form and procedure (statutory additions and deletions shown at… Read More »