With the new administration and Congress having recently taken office, we are now in the calm before the storm for news on new tax legislation, but there have been several federal and state tax developments of note: The federal exemption for estate taxes has increased to $5,490,000 from its previous level of $5,450,000. Illinois’ estate […]
Read more...Month: June 2017
New Illinois Employment Legislation
Several new laws affecting Illinois employers and giving new rights to employees have taken effect with the new year. The new laws include a prohibition on restrictive covenants for low-wage employees, and requiring the paid sick leave, if offered by the employer, be usable by an employee caring for sick family members. Prohibition on Restrictive […]
Read more...The Digital Assets Act and Your Electronic Estate
The Illinois Legislature passed a new Digital Assets Act that became effective on August 12, 2016. Where fiduciaries in the past may have had a difficult time accessing a decedent’s digital assets, this new Act sets forth procedures giving fiduciaries access to the decedent’s digital assets. The Fiduciary This Act applies to an executor, personal […]
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