Section Newsletters

Articles on Trusts & Estates

Illinois ABLE accounts and supplemental needs trusts By Kevin O’Flaherty Trusts and Estates, February 2019 An overview of Illinois ABLE accounts and how they can be used in conjunction with supplemental needs trusts in order to allow individuals with disabilities to earn incomes, receive inheritances and gifts, and accumulate assets without jeopardizing their government benefits.
1 comment (Most recent February 14, 2019)
Estate planning for non-human animals by human animals part 2: Pet trusts and other drafting considerations By Timothy S. Midura Trusts and Estates, January 2019 An overview on drafting estate planning documents for animal interests (including pet trusts), income taxation of pet trusts, and conclusion commentary.
A summary of the Trusts & Estates Section’s November 2018 business meeting By Colleen L. Sahlas Trusts and Estates, January 2019 A summary of the November 2018 Trusts & Estates Section's business meeting, including CLE, legislation, case law, and technology updates.
Use it or lose it: The IRS proposed regulations will not clawback sunsetting exemption amounts By Lawrence J. Gregory Trusts and Estates, January 2019 The Tax Cuts and Jobs Act of 2017 has temporarily increased the federal estate and gift tax exemption from $5 to $10 million until the end of 2025.
Flinn Report summary – August 3, 2018 through October 26, 2018 By Joseph P. O’Keefe Trusts and Estates, December 2018 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
A summary of the Trusts & Estates Section’s September 2018 business meeting By Colleen L. Sahlas Trusts and Estates, December 2018 A summary of the September 2018 Trusts & Estates Section's business meeting, including CLE, legislation, and technology updates.
Consider the single fund QTIP trust for your clients By Alan E. Stumpf Trusts and Estates, November 2018 An example of a letter that provides a vehicle for presenting a draft of the single-fund qualified terminal interest property marital trust.
Flinn Report summary – May 4, 2018 through, July 27, 2018 By Joseph P. O’Keefe Trusts and Estates, November 2018 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
The best of all possible worlds or curb your enthusiasm?: Joint trust basis considerations for common law jurisdictions By Brian J. Cohan Trusts and Estates, October 2018 Since the passage of the Tax Reform Act of 1976, the default platform for estate planning for married couples has been the ubiquitous A/B trust arrangement.
Flinn Report summary – March 2, 2018 through April 27, 2018 By Joseph P. O’Keefe Trusts and Estates, October 2018 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Appellate court’s estate planning advice By Michael J. Maslanka Trusts and Estates, September 2018 In Johnson v. Filler, the appellate court held that constructive knowledge by an attorney of wrongful conduct is not sufficient to allege a claim of aiding and abetting.
Income tax consequences for probate estates when resolving claims for less than the full amount By Derek M. Johnson Trusts and Estates, September 2018 Work with your estate representative clients to create an income tax-driven game plan for eliminating estate debt. 
Big bank versus little client: How to deal with unreasonable requests and demands By Michael J. Fleck Trusts and Estates, August 2018 It is commonplace for larger multi-state banks to give their customer the runaround when engaging in transactions involving powers of attorney, trust certifications, and small estate affidavits. As attorneys, we want these transactions to go as smoothly as possible without additional and unnecessary steps, forms, and costs.
3 comments (Most recent August 26, 2018)
Ethics Corner: Ethical issues in Illinois estate planning and trust/estate administration By Richard W. Kuhn Trusts and Estates, July 2018 An analysis of how Illinois Supreme Court Rule 1.6 impacts the practice of trusts and estates law. 
Four tips on avoiding trust & family breakdowns By Daniel P. Felix Trusts and Estates, July 2018 A case study providing lessons for how to make a trust work.
A summary of the Trusts & Estates Section’s February 2018 business meeting By Colleen L. Sahlas Trusts and Estates, May 2018 A summary of the February 2018 Trusts & Estates Section's business meeting, including subcommittee reports, legislative updates, case law updates, and more.
Who’s the client? By Sherwin D. Abrams Trusts and Estates, May 2018 In Estate of Hudson v. Tibble, the court considers whether counsel for the administrator of a decedent’s estate owes a duty to the estate.
2 comments (Most recent June 13, 2018)
Supreme Court upholds common law rule that self-settled trusts with spendthrift provisions are per se fraudulent and void as to creditors. Charity able to enforce pledge that donor wished to revoke By Edward J. Mitchell Elder Law, June 2013 A summary of the recent case of Rush University Medical Center v. Sessions.
Webinar opportunity: After the Fiscal Cliff – Roller Coaster or Merry Go Round? By Tracy S. Dalton Trusts and Estates, January 2013 Following a hectic time in Washington, Congress passed the “American Taxpayer Relief Act” on January 1, 2013. The Act prevents many of the tax increases that were scheduled to go into effect this year and retains many favorable tax breaks that were scheduled to expire. The Act also increases income taxes for certain high-income individuals as well as makes changes to the transfer tax system. The question remains as to whether or not major fiscal issues have been resolved since the Act extends sequestration until March 1st.
Department of the Treasury 2012-2013 Priority Guidance Plan Trusts and Estates, December 2012 The Department of the Treasury has released its 2012-2013 Priority Guidance Plan.
Do-It-Yourself Will kit—For a few dollars more By William L. Cleaver Elder Law, April 2003 Call me a glutton for punishment, but when I saw the ad in a recent Sunday news magazine for the Do-It-Yourself Will kit, I was sure that with the passage of time to further research and develop, the gaps I had found in past publications would have been filled in.
Educational expenses in Illinois: An analysis of §529 Plans in Illinois after EGTRRA By David A. Berek Trusts and Estates, December 2002 As Trusts and Estates practitioners, we advise our clients and their families not only on estate planning matters, but also life planning matters.
What did the testator really want? Trusts and Estates, December 2002 How would you distribute this estate?
Although an attorney’s fee may qualify as a trust administrative expense, it not be deductible for federal tax purposes By Edward Campell Trusts and Estates, November 2002 State law controls whether an attorney's fee is a valid administration expense payable from a trust's corpus, but federal law controls the federal tax implications.
The IDIT—What, why, how By Jay S. Goldberg Trusts and Estates, November 2002 In our world of acronyms, this has come to refer to the Intentionally Defective Irrevocable Trust--a trust so designed that it is excluded from the estate of the grantor but the grantor is, under the grantor trust rules, treated as the "substantial owner" and taxable on the income.
Odds and ends By Mark E. Zumdahl Trusts and Estates, November 2002 Private Letter Ruling 200234019 is a taxpayer friendly ruling which could apply in a future estate you handle.
Protecting charitable gifts By Marilyn Ratay Trusts and Estates, November 2002 In In re Estate of Lind, 734 N.E. 2d 47 (Ill. App. 2000), the Illinois appellate court protected a charitable devise from failing.
Recent developments in estate and gift tax By Michael L. English Trusts and Estates, November 2002 The tax court, in Christine M. Hackl, 118 T.C. No.14, ruled that gifts of ownership interests in a limited liability company did not qualify for the section 2503(b) annual gift tax exclusion where the ownership interests failed to confer substantial present economic benefits to the recipients.
Alternatives in administering a decedent’s assets By Jane Hartley Pratt Trusts and Estates, September 2002 Traditional estate administration includes either administration fully supervised by the court or the minimally supervised "independent administration."
Practice pointers By James K. Say Trusts and Estates, September 2002 Readers are advised that an excellent summary exists at the FDIC Web site, (www.fdic.gov), for avoiding mistakes in FDIC insurance coverage.

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