Johnson Law Firm

Special Needs

How Do Special Needs Trusts Work?

A special needs trust (SNT) can help you provide financial security to your child after you die without leaving them ineligible for the government benefits that they need to sustain care.

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Estate Planning

Why You Need an Estate Plan

Do you know what will happen to your property, belongings and debt when you die? What about your children? If you haven’t created an estate plan, now’s the time to start. Here’s how.

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Estate Planning Documents

What Does a Living Will Do for Me?

A living will is a legal document expressing your wishes on receiving or declining medical care or life-sustaining treatments should you become terminally ill or injured and unable to communicate those decisions for yourself.

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Blended Families

What Is a QTIP Trust?

A qualified terminable interest property (QTIP) trust allows an individual, called the grantor, to leave assets for a surviving spouse and determine how the trust’s assets are split up after the surviving spouse dies.

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Estate Planning

Why Is It Important to have an Estate Plan?

The new Federal Estate tax limit (above which Federal estate taxes will be payable) is $11,200,000.00 per person. Yes, most of us will not hit that limit, but 19 of the 50 states, Illinois included, impose an estate tax of their own ranging from .25% to almost 20% of your estate.

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Charitable Gifts

Can You Gift Money on Your Deathbed?

One sure-fire way your clients can reduce the size of their taxable estate is to give gifts to loved ones while they’re still alive. But when are ‘deathbed gifts’ considered to be complete for estate and gift tax purposes?

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