Posts by John Betz, JD, MBA
The Six Million Dollar Gamble
Effective January 1, 2026, the federal lifetime estate tax exclusion amount is increased to $15,000,000. For the first to die of a married couple with an estate under $15 million, are you willing to risk losing up to $6 million by not electing to file a federal estate tax return for portability purposes? What Is…
Read MoreDo You Need an Estate Plan Check Up?
Just like going regularly to your dentist twice a year and having your annual physical, the same should be done with your estate plan. As a general rule, you should review your will, revocable trust, power of attorney, and other estate planning documents at least every five years. But even more importantly, major life events are…
Read MoreTax Planning to Avoid – or Limit – the Illinois Estate Tax
As an Illinois resident, you may think you won’t owe estate tax because your estate is below the federal exemption, currently $12.92M. However, did you know that Illinois is one of 12 states (and the District of Columbia) with its own estate tax? Illinois residents with estates in excess of $4M may be in for…
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