Ask Terry Questions Illinois Estate Tax

Illinois Estate Tax

By Terry Savage on February 28, 2024 | Financial Planning / Retirement

What is the best type of trust to circumvent the Illinois Estate tax?

Terry Says

There is no trust to circumvent the Illinois estate tax. You must move out of state and establish a residence elsewhere!
If you give your money away, even in an irrevocable trust, your gift is considered part of your combined estate for estate and gift tax purposes.



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