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31
Death
Taxes &
Survivors
From sunrise to sunset, with the moon appearing in the winter early
evening sky, Chicago is a jewel city in the midwest. Unique to Chicago are the
many bridges that connect the city.
CHICAGOLAND Photographers is a
scheduled feature in Vigore. Emerging
and professional photographers can
submit their images to appear in
subsequent issues of Vigoré either in
print or online through our “flip
magazine”. For submissions visit
www.vigoremag.com
Vigoré
he trunnion bascule bridge or
Chicago bascule type bridge was
developed and perfected in Chicago
with 19 bridges of this type which
span the Chicago River from Lake
Shore Drive to Congress Parkway.
Chicago and Cook County are home
to one of the largest collections of his-
toric bridges in the country, and no
other city in the world has more
movable bridges.
Creative architects have designed and
positioned buildings to take advantage
of the man made and natural elements
of Chicago, creating spectacular views
What about
the surviving
spouse?
When an A-B trust is
implemented, two subsequent
trusts are created upon the death of
the first spouse. The assets will be
allocated between the
survivor’s trust, or “A” trust, and
the decedent’s trust, or “B” trust.
This will create two taxable
entities, each of which will be
entitled to use a personal
exemption. The surviving spouse
retains full control of his or her
trust. He or she can also receive
income from the deceased spouse’s
trust and can even withdraw
principal from it when necessary
for health, support, or
maintenance. On the death of the
second spouse, the assets of both
trusts pass directly to the heirs,
completely avoiding probate. If
each of these trusts contains less
than the exemption amount, these
assets will pass to the heirs free of
federal estate taxes.
Amateur Photos Submitted by Cay Clark
T
CHICAGO: City of Views