Spesia & Taylor

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You are here: Home / Archives for Estates, Wills & Trusts

Amendments to the Illinois residential real property transfer on death instrument act provides more estate plan tools to individuals in order to avoid probate

October 28, 2021

The Illinois Residential Real Property Transfer Act (755 ILCS 27/1, et seq.) (the “Act”) provides for an owner, or co-owners, to transfer Illinois residential real estate to one or more designated beneficiaries at the death of the owner, or, if there are more than one owner, at the death of the surviving owner. This post-death transfer is done by preparing and recording a Transfer on Death Instrument (“TOD Instrument”) during the owner's life. ... Read More

Filed Under: Estates, Wills & Trusts, Real Estate & Zoning Tagged With: estate planning, et seq.), Illinois Residential Real Property Transfer Act (755 ILCS 27/1, Real Estate, Spesia & Taylor

Summary Of Tax And Financial Factors Of President Biden’s American Families Plan

July 14, 2021

In May, President Biden announced the American Families Plan (“Plan”), a plan that would be, as he states, an investment in our kids, families and economic future. While this has not become a law as of yet, it does provide some insight on the direction that the President will be focused during his term. Some of the more pertinent tax and financial factors of the Plan are as follows: Education: The Plan provides universal, quality preschool to ... Read More

Filed Under: Business & Tax Planning, Estates, Wills & Trusts, News & Cases Tagged With: & Trusts, Business and Tax planning, estates, President Biden, Summary Of Tax And Financial Factors, the American Families Plan, Wills

Spesia & Taylor are Open for Business to Meet Your Trust, Estate, and Corporate Needs

May 18, 2020

All of us have been adjusting how we live our lives or how we conduct business in light of Covid-19. As Governor Pritzker makes changes to what is allowable in the foreseeable future, it will require us to remain fluid and flexible. For many, the “new normal” has been a slowing down, a reprioritizing, a time for reflection. For Spesia & Taylor, the “new normal” has included implementing a protocol to allow estate and corporate clients to ... Read More

Filed Under: Business & Tax Planning, Estates, Wills & Trusts, News & Cases Tagged With: Attorney, Corporate Business Attorney, COVID-19, Estate, Governor Pritzker, Joliet, meeting protocols, Spesia & Taylor, Trust, Will County

Witnesses In The Era Of Covid-19; Signing Important Documents During Social-Distancing

May 8, 2020

Executive Order From Governor Pritzker on Witnesses During Gubernatorial Disaster Proclamation On March 26, 2020, Governor Pritzker issued Executive Order 2020-14 in response to Covid-19 (Covid-19 Executive Order No. 12). This Order relaxes some of the in-person interaction and requirements related to services of witnesses so that residents of Illinois can continue to make critical personal and business decisions and finalize planning ... Read More

Filed Under: Estates, Wills & Trusts, News & Cases Tagged With: COVID-19, estate planning, estates, executive order, Governor Pritzker, Gubernatorial Disaster Proclamation, Spesia & Taylor, wills and trusts, witnesses

The COVID-19 CARES Act; How It Effects Your Financials And 2020 Taxes

May 8, 2020

Summary Of Tax And Financial Factors Of The CARES Act The CARES (Coronavirus Aid, Relief, and Economic Security) Act was signed into law on March 27, 2020. Some of the more pertinent tax and financial factors of the Act are as follows: Recovery Payment All U.S. residents with adjusted gross income up to $75,000 for single filers and $150,000 for joint filers are eligible for $1,200.00 payment (each individual) plus an additional $500 per ... Read More

Filed Under: Estates, Wills & Trusts, News & Cases Tagged With: 2020 Tax Filings, CARES Act, Charitable contributions, Coronavirus aid, distributions from retirement accounts, economic security, Loans from retirement accounts, Mortgage Relief, recovery payments, relief, Small Business Loans, Spesia & Taylor, Student loans, Tax and Accounting Provisions, tax and financial factors, unemployment assistance, Waiver of Required Minimum Distributions for 2020

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Featured News:

Spesia & Taylor Successfully Defends the City of Crest Hill in High-Profile Civil Rights Case

By: Michael R. Stiff Spesia & Taylor attorneys Jeff Taylor, and Mike Stiff on July 28, 2021, won a Motion to Reconsider the 2019 denial of a ... Read More

Amendments to the Illinois residential real property transfer on death instrument act provides more estate plan tools to individuals in order to avoid probate

The Illinois Residential Real Property Transfer Act (755 ILCS 27/1, et seq.) (the “Act”) provides for an owner, or co-owners, to transfer Illinois ... Read More

Spesia & Taylor Partners John Spesia and Jeff Taylor recognized as “Top Personal Injury Lawyers” in 2021

This September, Spesia & Taylor Partners John Spesia and Jeff Taylor were each recognized as “Top Personal Injury Lawyers” by LeadingLawyers.com. ... Read More

New Job Opportunity For Associate Attorney At The Law Firm Of Spesia & Taylor

Well established, dynamic, AV rated law firm is seeking associate attorney to join our practice. The law firm of Spesia & Taylor has been proudly ... Read More

Will County Legal Opportunity Scholarship Program Award Recipient Announced

Spesia & Taylor is a proud sponsor of the Will County Legal Opportunity Scholarship Program. The Scholarship awards a $5,000 per year up to three ... Read More

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