Under current law, any estate tax exemption amount that a spouse does not use by the time of his death cannot be used by a surviving…
In 2010, the Tax Increase Prevention and Reconciliation Act of 2005 (TIPRA) gets rid of the income ceiling that prevented individuals with modified adjusted gross income…
The Illinois Power of Attorney Act includes provisions for powers of attorney for healthcare. A power of attorney for healthcare allows an individual (Principal) to give…
Effective January 1, 2010, the income tax limit for transferring assets from a traditional Individual Retirement Account (IRA) to a Roth IRA is permanently dropped. These…
Effective November 6, 2009 a new tax credit is available for both repeat and first-time home buyers. The National Association of Home Builders’s website provides specific…
Reverse mortgages are available to homeowners age 62 and older. There is no minimum income or credit score requirement. A provision in the economic stimulus package…
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