Month: December 2016

Intra-Family Loans Are Often An Effective Estate Planing Tool

Intra-family loans are an excellent way for families to share the wealth without disrupting their estate and gift tax exemptions. These types of loans, however, aren’t always easy to structure. While individuals can put intra-family loans together themselves, the services of an experienced estate planning attorney and possibly a tax advisor should be considered to avoid possible complications or…

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Why Honesty Pays Off in Bankruptcy

People who choose to file for bankruptcy protection in Illinois must be honest, and if they are not, they could face criminal charges and have their bankruptcy petitions dismissed. While criminal charges are not always filed, bankruptcy courts may still impose other penalties against people who try to hide or conceal assets or who lie on their schedules. When…

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