Illinois Estate Planning, Tax & Business Law Blog
Practical guides and insights on Illinois estate planning, Medicaid planning, estate tax, probate, 1031 exchanges, business succession, and business law. Written by Paul Lechner, Esq., CPA — Attorney, LLM in Taxation, and Certified Public Accountant serving Orland Park, Tinley Park, and the Chicago southwest suburbs.
Illinois Legal Guides
Practical, Illinois-specific guides on the legal and tax issues that matter most to families and business owners in the Chicago southwest suburbs. Each guide is written by Paul Lechner, Esq., CPA — an Illinois attorney who is also a licensed CPA with an LLM in Taxation.
How to Avoid Probate in Illinois: A Complete Guide
Revocable living trusts, beneficiary designations, joint tenancy, TODIs — the complete toolkit for Illinois families who want to avoid the time, cost, and publicity of probate court.
Read GuideIllinois Medicaid Planning: The Five-Year Lookback
Long-term care costs $8,000–$12,000/month in Illinois. This guide explains the five-year lookback rule, irrevocable Medicaid trusts, spousal protection strategies, and spend-down planning.
Read GuideIllinois Estate Tax in 2026: What Families Need to Know
Illinois taxes estates over $4 million at rates up to 16% — and the exemption is not portable between spouses. A guide to bypass trusts, QTIP trusts, and planning strategies for Illinois families.
Read GuideRevocable vs. Irrevocable Trusts in Illinois
The fundamental difference between revocable and irrevocable trusts — what each does, what each does not do, and when Illinois families need each type.
Read GuidePower of Attorney in Illinois: What You Need to Know
Why every Illinois adult needs a durable property POA and a healthcare POA — what they authorize, what happens without them, and how to choose the right agent.
Read GuideWhat Happens When Someone Dies Without a Will in Illinois?
Illinois intestacy law distributes your estate according to a statutory formula — not your wishes. Who inherits, who doesn’t, and the real-world problems intestacy creates for families.
Read GuideThe Illinois Probate Process: What Families Need to Know
A step-by-step guide to Illinois probate — when it is required, the six-step process, how long it takes, what it costs, and how a properly funded revocable trust avoids it entirely.
Read GuideBusiness Succession Planning in Illinois: A Guide for Family Business Owners
Buy-sell agreements, family business transfers, ESOPs, sale to outside buyers, and coordination with the estate plan — the full Illinois business succession toolkit.
Read GuideLLC vs. S-Corp vs. C-Corp in Illinois: Choosing the Right Entity
A plain-language comparison of Illinois business entity structures — liability protection, self-employment tax savings, ownership flexibility, and when each structure makes sense.
Read GuideBusiness, Investing & Perspectives
Essays on business strategy, investment principles, and life — written over more than two decades of advisory practice.
Why Work With an Attorney Who Is Also a CPA?
The dual credential of attorney and CPA is rare — and it changes the quality of advice in estate planning, business transactions, real estate, and tax disputes in ways that matter.
Read MoreThe Backbone of Business Success – Strategy, Tactics, Teamwork
Seven principles drawn from military history and competitive practice — from Sun Tzu and Genghis Khan to Buffett and Lombardi — that separate organizations built to last from those that merely survive the next quarter.
Read MoreReal Life: Purpose, Passion, Effort & the Formula for Success
The formula for success: purpose, passion, effort, focus, and resilience. Those who keep going after failure are the ultimate winners.
Read MoreThe Secret to a Good Business and a Good Life
True worth is determined by how much more you give than you receive. The secret lies in learning what people want and then helping them get where they would like to be.
Read MoreEstate Planning FAQs: Trusts, Powers of Attorney & Medicaid
Why you need a plan, when to act, joint vs. standalone trusts, property and health care powers, Medicaid asset protection, and the critical importance of funding your trust.
Read MoreEstate Planning Basics for Business Owners
What happens to your business if something happens to you? Learn the key documents — trusts, buy-sell agreements, powers of attorney — every business owner needs.
Read MoreTax Law Changes: C-Corps, Capital Gains & Grantor Trusts
A review of proposed tax changes affecting C-corporation rates, capital gains, irrevocable grantor trusts, Roth IRAs, and net investment income.
Read MoreThe SECURE Act & Inherited IRA Rules
The SECURE Act eliminated the “stretch” IRA strategy for most beneficiaries and introduced the 10-year rule. What it means for your estate and retirement planning.
Read MoreKeys to Investment Returns & Tax Planning
Taxes play a critical role in shaping real investment outcomes. Tax-favored strategies, retirement plan alternatives, and after-tax return planning for business owners.
Read MoreInvestment Principles: Risk, Resilience & the Margin of Safety
Lessons from Edison, Graham, and Buffett on failure, persistence, market history, and the margin of safety — and why managing risk, not avoiding it, is the foundation of sound investing.
Read MoreManaging Coronavirus: Pandemics, Panics & Economic Cycles
The Coronavirus recession examined through business cycles, historical manias, crowd psychology, and the dangers of unchecked government debt.
Read MoreBlue Ocean Strategy for Business Growth
How focused goals and creative thinking — from IBM to Apple to Southwest Airlines — can unlock untapped markets and drive lasting business growth.
Read MoreToday’s Challenges & the Entrepreneur’s Solution
The universal law of cause and effect and entrepreneurial thinking. You have far more capacity to shape your future than you ever imagined.
Read MoreChoices, Mastery & Extraordinary Performance
The price of anything is the amount of life you exchange for it. Mastery begins with a choice to prioritize depth over breadth and the long view over the short.
Read MoreSpring Training & the Power of Natural Planning
What baseball spring training teaches about goal-setting and natural planning. Hard work is the price we must all pay for our successes.
Read MoreHave a Purpose: The Holy Grail of Business & Life
Percival’s search for the Holy Grail asks: “Whom does the Grail serve?” Purpose is what separates those who persist from those who quit.
Read MoreHuman Nature & the Art of Understanding Others
What “Never on Sunday” teaches about communication and why understanding what motivates others is one of the most valuable business skills.
Read MoreAmerican Freedoms, Free Markets & the Constitution
Constitutional principles and the classic Milton Friedman–Phil Donahue exchange on capitalism, greed, and the productive power of a free enterprise system.
Read MoreHave a question about Illinois estate planning, tax strategy, or business law? Contact us or call (708) 460-6686. We also offer a free monthly Brown Bag Lunch Q&A — bring your questions, no charge.