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2. Democrat, Republican lawmakers give support to bipartisan ...

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   The Family Farms Preservation Act would increase the tax threshold to $6 million meaning fewer Illinois farmers would be subject to the tax Democrat, Republican lawmakers give support to ...

3. Estate Tax Rates, Limits, Exemptions and Other Rules ... - AOL

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   The federal estate tax exemption — also referred to as the estate tax exclusion — is $11.7 million per person as of 2021. A married couple can effectively leave behind $23.4 million combined.

4. Do I Need to File an Estate Tax Return? - AOL

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5. Estate tax in the United States - Wikipedia

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   The modern estate tax was temporarily phased out and repealed by tax legislation in 2001. This legislation gradually dropped the rates until they were eliminated in 2010. However, the law did not make these changes permanent and the estate tax was scheduled to return to 55 percent in 2011. [58]

6. Gift tax in the United States - Wikipedia

   en.wikipedia.org/wiki/Gift_tax_in_the_United_States

   A gift tax, known originally as inheritance tax, is a tax imposed on the transfer of ownership of property during the giver's life. The United States Internal Revenue Service says that a gift is "Any transfer to an individual, either directly or indirectly, where full compensation (measured in money or money's worth) is not received in return."

7. This Is When You May Need an AB Trust in Your Estate Plan - AOL

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   Without an AB trust, $5 million would be subject to Illinois estate tax upon the death of the second spouse. But with an AB trust, the death of the first spouse (Linda) would trigger the split of ...

8. Illinois Department of Revenue - Wikipedia

   en.wikipedia.org/wiki/Illinois_Department_of_Revenue

   The Illinois Department of Revenue (IDOR) is the code department [1] [2] of the Illinois state government that collects state taxes, operates the state lottery, oversees the state's casino industry, oversees the state's thoroughbred and harness horse racing industries, and regulates the distribution of alcoholic beverages throughout Illinois, including beer, wine, and liquor. [3]

9. How to Create a Living Trust in Illinois - AOL

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