Use It Or Lose It: Planning Tips For The Illinois Estate Tax

Rebecca Solomon, J.D., LL.M.
Senior Vice President
Estate Planning Specialist
Mesirow Wealth Management

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Learning Objectives:

• Recognizing: Recognize the differences between the federal and Illinois estate taxes and when a client will have exposure to Illinois estate tax.
• Understanding: Understand the estate planning strategies to reduce or eliminate Illinois estate tax exposure.
• Analyzing: Analyze the optimal trust funding strategies for married couples to maximize the use of each spouse’s exemption from the Illinois estate tax.
• Explaining: Explain the Illinois effective estate tax rate and the impact of the IL estate tax “cliff”
• Recognizing: Recognize when taxable gifts will reduce Illinois estate tax and the overall tax burden on the recipient of transferred property.

Program Schedule:

• 7:15 am – Check-in/Breakfast
• 7:50 am – Welcome/Introductions
• 8:00 am – Presentation and Q&A
• 9:00 am – Announcements and Adjournment

Target Audience: The target audience is financial planning professionals who advise clients who reside in the state of Illinois or non-residents who have exposure to the Illinois estate tax through ownership of Illinois real property. This could include tax and estate planning professionals as well as other financial planning professionals who manage client assets and advise on the balance sheet.

Complexity Level: Intermediate

CPE, CFP and CLE Credits = 1 hour (pending approval)

Location
The meeting will be held in the 5th-floor conference room, Suite 500, in the Greenspoint Office Park building at 2800 W. Higgins Road, Hoffman Estates.

Registration
Registration closes on Friday, May 15. An email with a link to download the handout will be sent before the meeting.

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