Estate & gift tax review
Evaluate potential federal and applicable state exposure, prior gifts and relevant filing or election questions. Review your plan as your assets and circumstances change.
YOUR LEGACY. A COORDINATED PLAN.
Estate Planning & Tax Advisory
Protect your intentions. Plan for the tax impact.
KFN helps you evaluate how to pass wealth to the people and causes that matter to you in a tax-efficient way. We connect estate, gift and income-tax considerations with your family priorities, working alongside your estate attorney and other advisors.
Based in Third Lake, IL, serving clients in all 50 states.
Discuss your estate planning goals →WHY PLAN EARLY?
A thoughtful estate plan looks beyond one tax.
How assets are owned, when they are transferred and who receives them can affect both your estate and your beneficiaries. The goal is to evaluate tax efficiency alongside access to funds, control, family needs and your long-term intentions.
There is no single structure that is most tax-advantaged for every family. KFN reviews the facts and tradeoffs so your legal documents and financial decisions can support a coordinated plan.
Where KFN can help.
Lifetime gifts & asset basis
Compare gifting during life with transferring assets at death, including the potential effect on beneficiaries’ future capital gains. Inherited property generally receives a basis tied to its value at death, subject to exceptions.
Trust tax considerations
Work with your attorney to evaluate the tax implications of proposed trusts, ownership arrangements and distributions. A trust’s tax treatment depends on its terms and circumstances.
Business & real estate succession
Connect your ownership interests, rental properties and transition goals with your estate strategy. Coordinate with legal counsel and valuation professionals when needed.
Beneficiary & retirement coordination
Review the tax questions surrounding retirement accounts and beneficiary choices with your legal and financial advisors, including how distributions may affect heirs.
Estate & trust income reporting
Identify income-tax reporting needs for estates, trusts and beneficiaries. Confirm the preparation scope and coordinate administration records with executors and trustees.
OUR PROCESS
Build the plan around your life.
1. Understand your priorities
Discuss family needs, intended beneficiaries, charitable goals, business interests and how much control and liquidity you want to retain.
2. Map your financial picture
Review asset ownership, estimated values, debts, existing documents, beneficiary information and prior gift-tax filings.
3. Compare strategies
Evaluate relevant tax scenarios and tradeoffs with your advisors. Document assumptions and identify any specialist or valuation work needed.
4. Coordinate & revisit
Your attorney prepares legal documents. KFN supports tax coordination and agreed reporting, with follow-up when family circumstances, assets or laws change.
Common estate planning questions.
Does KFN draft wills or establish trusts?
KFN provides tax and accounting guidance. An estate attorney drafts wills, trusts and other legal documents and advises on legal implementation. We coordinate with your attorney to address the tax considerations.
Is estate planning only for very wealthy families?
No. Beneficiary choices, retirement accounts, property ownership and income-tax reporting can matter even when no federal estate tax is due.
Does a trust automatically reduce estate taxes?
No. Tax results depend on the type of trust, its terms, asset ownership and applicable law. We evaluate proposed structures with your attorney rather than assuming a trust creates tax savings.
What is portability?
Portability can allow a surviving spouse to use a deceased spouse’s unused federal estate and gift tax exclusion. An estate tax return election is generally required, even when the estate otherwise has no federal estate tax filing requirement. Timing and eligibility should be reviewed promptly.
Can you guarantee the lowest possible tax?
No. We work to identify appropriate tax-efficient options based on your circumstances and current law. The right plan also considers your goals, costs, flexibility and implementation.
What to bring to your first conversation.
Start with a summary of your assets, ownership interests, family priorities and existing estate documents. Share sensitive records only through KFN’s secure onboarding process.
Related support: Estate PlanningPrivate Client Advisory · Strategic Tax Planning · Real Estate Tax Services
Further reading: IRS estate tax overview, IRS Publication 551: basis of assets, and IRS Publication 559: survivors, executors and administrators.
LOCAL KNOWLEDGE. NATIONWIDE COORDINATION.
Estate tax planning in Lake County, Illinois—and beyond.
Based in Third Lake, IL, KFN supports families, business owners and property investors in Grayslake, Libertyville, Gurnee, Mundelein, Vernon Hills and the Round Lake communities. Virtual consultations make our tax-focused estate planning support available in all 50 states.
Our role is to evaluate tax considerations and coordinate with your estate attorney. Your residence, asset locations, ownership and beneficiaries help determine which state-specific questions need review.
Explore Lake County services · Tax services for Grayslake
A CPA’s perspective on your estate plan
Led by Kyle Nader, CPA, KFN connects tax planning with business ownership, real estate and family financial priorities. We define the scope, records needed and coordination with your legal and financial advisors before work begins.
Plan for the people who matter.
Start a conversation about your estate and tax planning priorities.
ILLINOIS ROOTS. ALL 50 STATES.
Estate Tax Planning for Lake County and Cook County.
Based in Third Lake, IL, KFN works with clients in Grayslake, Libertyville, Gurnee, Mundelein and surrounding Lake County communities. We also serve Chicago, Evanston, Skokie, Northbrook, Glenview, Arlington Heights, Palatine and Schaumburg through virtual appointments.
Discuss your estate tax planning needs with a CPA-led firm serving clients in all 50 states. Explore our service area or get in touch to confirm the scope that fits your situation.