The Palley Law Office Post

For male same-sex couples in Illinois, gestational surrogacy offers a meaningful and legally supported pathway to parenthood. Illinois law, through the Gestational Surrogacy Act (GSA), recognizes both intended parents as legal parents from the moment of birth, assuming the Act’s requirements are met. However, while the surrogacy process may be secure under Illinois law, it… Read more: Gestational Surrogacy and Estate Planning for Male Gay Couples in Illinois: What You Need to Know

Estate planning is never one-size-fits-all. For blended families—particularly when each spouse has children from prior relationships—the process requires careful thought and strategic planning. While many couples begin with simple “mirror wills,” leaving everything to the surviving spouse and then equally to all children, this arrangement may not fully protect the interests of each spouse’s biological… Read more: How to Protect Your Children’s Inheritance in a Blended Family

At this time of year many of us are traveling to enjoy a vacation at a summer home. Perhaps you live in Chicago and own a lake house in Michigan. Owning property in more than one state can complicate the administration of your estate. Many people don’t realize that real estate is governed by the… Read more: Estate Planning for an Out of State Vacation Home

When a will includes multiple pieces of real estate—especially commercial properties—dividing those assets among several beneficiaries can create unintended financial consequences. One of the most overlooked risks is the devaluation that occurs when beneficiaries inherit partial interests in real estate. This is particularly true for commercial properties, where the sale of a minority or fractional interest often triggers a discounted appraisal.

Many successful individuals focus on the federal estate tax, but it’s easy to overlook state estate taxes that can hit much lower wealth levels. Illinois is one of many states with an estate tax, and it applies to estates over $4 million – far below the current federal exemption (around $14 million per person). In other words,… Read more: The Hidden Estate Tax Trap in Illinois—And How a Trust Can Save You

Illinois estate planning isn’t just for the rich or the elderly – it’s a smart step for everyone, from young adults to senior citizens. Many people think of estate planning as something to worry about later in life, but every adult in Illinois should have some plan in place. In this guide, I’ll walk through… Read more: Smart Illinois Estate Planning for Every Life Stage

Many people want to support family members or friends by helping with college tuition or covering medical bills. But generous gifts like these can raise questions about the federal gift tax. The good news? There’s a way to help without triggering tax consequences—by paying tuition and medical expenses without gift tax, using a special IRS exception… Read more: Helping Loved Ones Without Triggering Gift Tax

Planning your estate in Illinois often involves deciding whether trusts should be part of your plan. Trusts are a powerful estate planning tool that can help you manage and distribute your assets, avoid probate, and even save on taxes. In this primer, I’ll explain when you should consider a trust and break down common types of trusts – including… Read more: Trusts Demystified: A Bold Step Toward Better Planning

Losing a loved one is hard enough without the added stress of handling their estate. If you’ve been named the executor in your loved one’s will, you might feel overwhelmed. The good news is that Illinois offers a streamlined independent administration process for probate – the most common way estates are settled in the state. This guide… Read more: You’ve Been Named Executor–What You Need to Know

A trust is a legal arrangement that allows someone (the trustee) to hold and manage property for the benefit of another person (the beneficiary). While there are many types of trusts, one of the most used in estate planning is the revocable living trust. This tool offers flexibility, privacy, and the potential to simplify the management and distribution of your… Read more: What Is a Living Trust and Should You Have One?