IL estate risk
Tax exposure in Illinois
State estate or inheritance tax rules and how they interact with federal thresholds.
Illinois imposes a state estate tax with a $4,000,000 exclusion amount and requires Form 700 filings for estates above that threshold.
At a glance
Key takeaways
- The Illinois estate tax exclusion amount is $4,000,000.
- An Illinois Form 700 is required when the gross estate (including adjusted taxable gifts) exceeds the exclusion amount.
- Illinois estate tax is due nine months after the date of death; extensions are available.
- State estate tax thresholds are separate from the federal exemption and can be lower; confirm current exclusion and filing requirements.
Questions to consider
Questions to consider in Illinois
- Does the state impose an estate or inheritance tax?
- Who is exempt or receives preferential treatment?
- How does federal tax interact with state rules?
State overview
Illinois imposes a state estate tax with a $4,000,000 exclusion amount and requires Form 700 filings for estates above that threshold.
- The Illinois estate tax exclusion amount is $4,000,000.
- An Illinois Form 700 is required when the gross estate (including adjusted taxable gifts) exceeds the exclusion amount.
- Illinois estate tax is due nine months after the date of death; extensions are available.
- State estate tax thresholds are separate from the federal exemption and can be lower; confirm current exclusion and filing requirements.
Sources
- https://www.illinoisattorneygeneral.gov/estate-taxes/
- https://www.illinoisattorneygeneral.gov/Page-Attachments/EstateTaxInstructionFactSheet.pdf
- https://taxfoundation.org/data/all/state/estate-inheritance-taxes/
Background sources
- IRS inflation adjustments for tax year 2026
Use for the current federal estate tax basic exclusion amount.
- IRS Instructions for Form 706 (United States Estate Tax Return)
Defines filing requirements and federal estate tax framework.
- Tax Foundation - State estate and inheritance taxes
Current list of states with estate or inheritance taxes.
National sources provide baseline context; state statutes and court rules control in Illinois.
Optional next steps
Continue with related estate-risk context
Educational resources only. No forms and no legal advice.
Understand death-risk context for Illinois
LifeRiskIQ gives broader mortality context that can help frame when estate planning becomes more urgent.
Understand retirement-risk context for Illinois
RetirementRiskIQ explains how asset growth and longevity can increase estate complexity over time.
Review federal estate tax basics
IRS guidance on federal estate tax thresholds, filings, and definitions.