My dad is dying from pancreatic cancer and doesn't have much longer to live. He is wondering about the inheritance tax law and if it applies to Illinois and if so, at what amount does it apply? Thanks
Asked on 1/21/10, 1:57 pm
1 Answer from Attorneys
Estate tax laws are rather up in the air right now. Currently, there is no Federal Estate tax, but it is quite likely that Congress will enact one later in the year that will be retroactive to the 1st of January, 2010.
On the Illinois side, there is an action pending that would allow the Illinois Estate tax cap to remain at $2,000,000 for 2010.
Please let me know if I can assist you and your father by e-mail or phone (I notice from your zipcode that you are downstate).
Cyndi Trostin
Answered on 1/28/10, 8:19 am
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