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What is an Estate?

An estate is any of the things of value that belong to you, and it can include investments, properties, or more—and it may be handed down in several ways. An estate can refer to several things – whether it’s an individual’s personal property (house, car, etc.), their possessions (jewelry, art, etc.), or their right to control certain assets postmortem – this is considered part of that person’s “estate.”

Here at Outstanding Tax Arlington Heights, we’ll work with you to ensure that your estate plan is exactly what you want it to be.

Estates & Trusts

Estate and trust taxes are an essential part of your financial legacy. Effective planning can help you to transfer assets in a way that will preserve them, protect those left behind from unnecessary costs or burdens while also providing security for any loved ones left behind after an individual’s passing away – all without penalties!

Additionally, your estate and trust tax plan can ensure that any wishes you have for the future of your assets will be satisfied. Whether you’re looking to pass on money to a beneficiary after death, build up an allowance over time for a loved one or provide charitable contributions, we can help make the process much less painful and more rewarding.

Estate Management, Simplified.

Effective estate management means more than just transferring property to people who are entitled – it also has a particular set of steps that need to occur for everything you intend on doing, be done. This can be simplified into two parts:

1) Fulfilling tax obligations that may be associated with your estate.
2) Distributing assets, including real property, cash accounts, stocks, fixtures, and personal possessions to the individuals entitled to them.

The process of transferring everything you have is called an “Estate Administration.” Outstanding Tax Arlington Heights has been servicing estates through their professional team for over several years now. Whether you’re looking for help with a single asset or multiple assets, we’re highly knowledgeable regarding the assessment of every estate’s unique circumstance – this is what makes us stand out among other firms that offer similar services.

Manage Your Estate in 3 Easy Steps:

1. We start with a comprehensive analysis of your situation.
2. Next, we work with you to create an estate plan that fits your needs and goals.
3. Finally, we ensure all documentation is accurate and tax liabilities are minimized as much as possible.

Safe House

Protect Your Assets with a Will or Trust

 If you’re like many Americans, you may not have a will or trust.

This is why it’s essential to understand all that an estate planner can offer you. The average cost ranges from just over $200 to as high as $2,000, depending on who drafts it and for what purpose. A trust is a legal arrangement that allows a person (known as a trustee) to manage properties or assets in a way that best suits their beneficiary’s needs. Trusts are often used to avoid the probate process by transferring ownership of specific properties before death. Even when designing your estate plan, it’s essential to keep in mind that you have the final say in how your money is distributed, regardless of where you are in life.

Outstanding Tax Arlington Heights performs high-quality tax compliance and administration for estates. We have the experience necessary to help you understand your obligations while simultaneously working diligently to ensure your assets are distributed fairly.

We Ensure Your Assets are Protected During Your Lifetime and Beyond

Are you getting married? Having kids? Preparing to buy a vacation home? What if you decide to adopt a baby? In each situation, your assets become more complicated – which can make it difficult to determine who should inherit from your estate.

Whether you’re trying to protect a family inheritance from being lost to probate court or ensure that the trust is managed appropriately according to your wishes, we’ll be there for you. Effective estate management means more than just transferring property to people who are entitled – it also has a particular set of steps that need to occur for everything you intend on doing, be done.

Our professional team performs tax compliance and administration for estates. Our knowledge regarding assessing every estate’s unique circumstance makes us stand out among other firms that offer similar services.

Deciding Who Gets What Before Distribut