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Lexern provides trusted Tax Law guidance for individuals and families, helping protect assets, resolve tax matters, and plan with confidence.

Illinois New Franchise Tax and License Fee Amnesty Program

By |2025-10-23T10:34:12-05:00October 23rd, 2025|Blog, Business Law, Illinois State Law, Small Business, Tax Law, Tips|

The Illinois Secretary of State’s Department of Business Services has announced a new Franchise Tax and License Fee Amnesty Program. This limited-time program gives eligible corporations the opportunity to avoid penalties and interest on unpaid or underreported franchise taxes. If your business is incorporated or authorized to do business in Illinois, you’ll want to [...]

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Why Estate Planning Isn’t Just for Retirement—It’s for Right Now

By |2025-04-11T10:39:37-05:00April 11th, 2025|Blog, Business Structure, Estate Planning, Estate Planning, Small Business, Tax Law, Tips|

Too many high-earning professionals and business owners think of estate planning as something to do “someday”—after retirement, after the kids are grown, after things slow down. But life doesn’t always wait for the perfect moment. Whether you’re running a practice, growing a business, or building generational wealth, the decisions you make today will shape [...]

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Unlocking Tax Savings for Business Owners: Section 1202 Stock

By |2023-10-03T11:00:28-05:00September 29th, 2023|Blog, Business Law, Tax Law, Tips|

Tax savings for business owners may be found in the Qualified Small Business Stock. As a business owner or professional looking to invest in small businesses, you're likely always on the lookout for ways to optimize your financial strategy. One powerful but often overlooked avenue for reducing tax liability is Section 1202 stock, also [...]

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Tax Bracket Changes for 2023

By |2023-06-08T10:18:22-05:00June 9th, 2023|Blog, Business Law, Estate Planning, Estate Planning, Small Business, Tax Law, Tips|

Tax brackets changes for 2023 have been announced by the IRS in response to rising inflation. Tax brackets play a crucial role in determining how much individuals and businesses owe in taxes. These brackets define the income ranges that correspond to different tax rates, ensuring a progressive tax system where higher earners pay a [...]

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How to Help Your Adult Children Buy a Home

By |2023-06-01T10:57:49-05:00June 2nd, 2023|Blog, Estate Planning, Estate Planning, Tax Law|

Learn the right ways to help your adult children buy a home so you minimize any implications on your own financial goals and estate planning. As parents, we want the best for our children, and one significant milestone in their lives is purchasing their first home. However, rising property prices and challenging financial circumstances [...]

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Smart Ways to Handle an Inheritance

By |2022-06-02T15:38:20-05:00June 10th, 2022|Blog, Estate Planning, Estate Planning, Tax Law, Tips|

We’ve all heard stories of lottery winners who have gone bankrupt. While an impending inheritance for you may not be on the same level as winning the lottery jackpot, there are still things you should be aware of when it comes to smart ways to handle an inheritance. Your inheritance may include more than [...]

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Proposed Tax Law Changes to IRA’s and What They Could Mean For Your Estate Plan

By |2021-10-15T12:18:44-05:00October 15th, 2021|Blog, Estate Planning, Estate Planning, Tax Law, Tips|

Have you seen the headlines about the “Build Back Better Act”? You may need to pay closer attention to your estate planning and retirement accounts in the near future.  Although the bill hasn’t passed yet, the proposed tax law changes could impact your exposure to estate planning taxes and your self-directed IRA investment options.  [...]

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Where’s Your Money Going? Estate Planning Tips to Keep Your Money in Your Family

By |2021-06-18T14:21:59-05:00June 18th, 2021|Blog, Estate Planning, Estate Planning, Tax Law, Tips|

Let’s face it, we know thinking about what happens after you die isn’t something you necessarily want to think about or talk about. With the “greatest wealth transfer in history” in our midst, it’s important to know what happens to your assets when you die and how you can properly plan for them to [...]

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Who Will Pay If You Take the Easy Way Out?

By |2021-08-03T14:59:32-05:00May 28th, 2021|Blog, Estate Planning, Estate Planning, Tax Law, Tips|

When it comes to estate planning, there’s no easy way out. We previously wrote about estate planning myths, and there are so many more that we didn’t cover. It can be a confusing process, especially with estate tax laws. Solutions that may seem simple could end up costing you and your loved ones many [...]

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What the Election Could Mean to Your Estate Planning

By |2021-05-16T07:52:00-05:00October 30th, 2020|Estate Planning, Estate Planning, Federal Law, Tax Law, Tips|

It’s a very busy and distracting time of the year with the fast-approaching holidays and, of course, the election that’s just around the corner. This time of year is always a great time to review any current estate plans you already have in place and with the upcoming election there could be some other [...]

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The Lexern Law Group, Ltd. is an Illinois and Wisconsin business and estate planning law firm, located in Libertyville, Lake County, Illinois. We primarily serve clients that are located in North-Western Illinois and Southeastern Wisconsin, including Libertyville, Lake Forest, Vernon Hills, Buffalo Grove, Glenview, Wheeling, Palatine, Northbrook, Lincolnshire, Grayslake, Arlington Heights, Kildeer, Schaumburg, Gurnee, Deerfield, Deer Park, and Barrington areas. In Wisconsin, we serve clients in Milwaukee, Racine, Kenosha, and Mequon counties. We represent business owners and licensed professionals, such as doctors, dentists, veterinarians, and their families in business, business succession, and estate planning matters.

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