Tax Law

Much of our reputation is built on knowing the intricacies of tax law especially as it relates to agricultural businesses, trusts and estates. This knowledge is necessary in order to advise clients on the best business and estate planning options available to them.

Taxes in the world of agriculture is highly specialized. Income taxes for farmers and farm businesses factor in to our estate and business planning decisions. Proper advice on choice of entities such as LLC’s, S corporations and limited partnerships cannot be made without knowing the tax implications.

Every year our attorneys prepare federal and state estate tax returns for families and utilize every available opportunity to save tax. Elections such as internal revenue code sections 2032, 2032A, 6166, as well as proper business and land valuations have the potential to produce significant tax savings for families. Our attorneys are experienced and tested at utilizing the best strategies to minimize tax. Both Illinois and Federal Estate taxes must be planned for and properly dealt with at death by a specialist in this area.

The late Robert M. Bellatti, one of the Firm’s founders co-authored a book entitled Estate Planning for Farms and Other Qualified Family-Owned Businesses, Under Sections 2032A and 2057, which is still the leading authority on section 2032A. Michael G. Barton appears at speaking engagements several times a year on estate tax topics including providing Illinois attorneys the annual Estate Tax Update at the Illinois Bar Association Seminar Entitled: Hot Topics in Agricultural Law. Andrew G. White along with Michael G. Barton presented a webinar before the Illinois State Bar Association entitled: Planning for and Utilizing IRC Section 2032A. Our members frequently provide tax matter consulting to other attorneys and accountants across the state.