Tag: illinois estate tax

A family business is often the most significant asset an owner will ever build. It represents decades of work, sacrifice, and reinvestment. Yet without careful planning, a large portion of that business could be lost to estate taxes when the owner dies. In 2026, family business owners in Illinois face a two-layer estate tax problem that demands close attention. Federal law and Illinois state law each impose their own estate taxes, with different exemption amounts, different rates, and different rules for married couples. Understanding how these two systems work is […]