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Plan smarter transfers with estate and gift tax strategies that preserve your legacy

Reduce tax burdens, not your impact

Federal and Illinois estate taxes can significantly diminish the value of what you leave behind—but careful planning makes a difference. At Schlack & McGinnity, we help individuals and families reduce or eliminate exposure to estate and gift taxes through personalized strategies that align with your goals.


Whether you're thinking about lifetime gifts, future business succession, or how to pass on assets efficiently, we offer clear, legally sound options to protect the people and causes you care about.

Focused legal strategies for estate and gift tax planning

We provide dedicated guidance on:

  • Federal and Illinois estate tax planning

  • Lifetime gifting strategies to reduce estate size

  • Creation and funding of lifetime trusts

  • Tax-efficient wealth transfers to children, grandchildren, or charitable entities

  • Business succession plans that minimize transfer tax consequences

  • Preparation and filing of estate and gift tax returns (IRS Form 706, 709)

Our services are tailored for individuals, family-owned businesses, and anyone seeking to preserve wealth across generations.

Why estate tax planning matters

Exemption amounts and tax thresholds shift often. What may not be taxable today could be years from now. We stay current with federal and Illinois tax code changes and help clients act proactively.



We also coordinate with accountants and financial advisors when needed to ensure strategies are consistent across your broader estate and wealth plan.

FAQs About Tax Planning

  • Who needs estate tax planning?

    If your estate (including life insurance, real estate, and investments) exceeds state or federal thresholds, you may owe significant taxes. Early planning can reduce or eliminate that liability.

  • Can I make gifts during my lifetime without tax?

    Yes. We help structure annual exclusion gifts, 529 plan contributions, and irrevocable trust transfers to avoid unnecessary tax filings.

  • What forms do I need to file for estate or gift taxes?

    We prepare and file IRS Form 709 (Gift Tax) and IRS Form 706 (Estate Tax) when required, and help you gather the right documentation.