Secure your legacy and protect your loved ones with expert estate planning from Wator & Associates, P.C., a trusted Illinois law firm dedicated to crafting personalized solutions for your future. Our experienced attorneys specialize in guiding clients through every aspect of estate planning, ensuring your assets are distributed according to your wishes while minimizing tax […]
Tag Archives: #legacyplanning
From the perspective of a trust lawyer, the tax treatment of a revocable living trust and an irrevocable living trust under the Internal Revenue Code (IRC) can be significantly different. A revocable living trust is generally disregarded as a separate entity for tax purposes, meaning that the grantor is still considered the owner of the […]