CHICAGO: 312 332 7555 SCHAUMBURG: 847 705 7555
Jackie R. Luthringshausen
I strive to provide excellent service to help my clients fulfill their estate planning goals and wishes so that they can provide for their family and loved ones, now and in the future. I achieve these goals by knowing and understanding each client’s unique needs, communicating effectively, showing empathy, and committing myself to attention to detail.
Education
- J.D., cum laude, DePaul University College of Law, Chicago, Illinois - DePaul College of Law Dean's Scholar, American Jurisprudence Award in Legal Writing
- B.A., magna cum laude, University of Notre Dame, Notre Dame, Indiana – English, Phi Beta Kappa, University of Notre Dame Scholar
Bar Certifications
- Admitted to the Bar of the Illinois Supreme Court
- Admitted to the U.S. District Court, Northern District of Illinois
Bar Association Memberships
- American Bar Association
- Northwest Suburban Estate Planning Council
Media
Ms. Luthringshausen is a contributor to our podcast series “Chicago’s Legal Latte” which can be found on BlogTalk Radio http://www.blogtalkradio.com/lavellelaw.
Community Involvement
Ms. Luthringshausen co-chairs the Women in Networking - an all-female networking group sponsored by the Schaumburg Business Association. She also serves on the Board of Directors of the Palatine Township Senior Citizens Council where she assists with policy making and fundraising for the Palatine Senior Center. Jackie teaches catechism to children in grades 1-6 and volunteers for Feed My Starving Children, a Christian non-profit that provides nutritionally complete meals specifically formulated for malnourished children.
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Lavelle Law News and Events
One important goal of effective estate planning is to minimize the amount of tax that your estate will be subject to upon your death. If the value of your assets at your death exceeds a threshold amount, your estate will be subject to federal estate tax and potentially state estate tax as well, depending on the state in which you reside at your death. Currently, twelve states (including Illinois) and the District of Columbia impose a state estate tax in addition to any federal estate tax due. Currently, the Illinois estate tax exemption is $4 million per individual, which means a person can transfer up to $4 million worth of assets at death without incurring Illinois estate tax. The current federal estate tax exemption, put in place in 2017 by the Tax Cuts and Jobs Act (TCJA), is $13.61 million per individual; however, this amount is scheduled to “sunset” at the end of 2025 and revert to pre-TCJA levels, which is estimated to be around $7 million per individual (adjusted for inflation).
Special congratulations to all “new moms” who recently celebrated the birth of their first child and to “experienced moms” who recently expanded their family with the birth of a new child! Whether you are a “brand new mom” or an “experienced mom,” now is the time to think about preparing estate plan documents to protect your new or growing family.
Movies like “Knives Out” perpetuate the notion that upon a person’s death, the family must gather for a “reading of the will” to discover who will inherit the deceased family member’s worldly possessions.
Contrary to this dramatic movie script depiction, most estates are administered without arranging a family gathering for a “reading of the will.” Additionally, if the decedent had a trust, it is the trust, and not the will, which governs how the decedent’s assets will be distributed after his or her death. Often, clients come into our office for an estate planning consultation and initially say, “I need a will.” However, after we discuss the differences between a will and a trust, many clients opt to prepare a trust instead.
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Phone: 312 332 7555
Fax: 312 332 4611
Fax: 847 705 9960
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