Section Newsletters

Articles on Trusts & Estates

Formula General Powers of Appointment to the Rescue By Robert J. Kolasa Trusts and Estates, June 2020 Because of the high exclusion, many credit shelter trusts won't save estate taxes, yet will undesirably deprive the family of stepped-up basis at the death of the surviving spouse. 
Powers of Attorney: Pitfalls and Best Practices Part 2—Powers of Attorney for Health Care By Susan Dawson-Tibbits Trusts and Estates, June 2020 This article continues to focus on problematic areas and best practices used in the preparation of various types of powers of attorney.
1 comment (Most recent June 17, 2020)
Spotlight on Trusts & Estates Section Council Members: Edward Jarot, Jr. and Nora Baker By Mia O. Hernandez Trusts and Estates, June 2020 A spotlight on two members of the Trusts & Estates Section Council.
Checklist for Trustees Under the New Illinois Trust Code By Daniel P. Felix Elder Law, March 2020 A checklist of some key provisions of the new Illinois Trust Code to help trustees get up to speed quickly.
Flinn Report Summary – August 2, 2019 through November 22, 2019 By Joseph P. O’Keefe Trusts and Estates, March 2020 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 6 – The Trustee, Trustee Duties, Liability and Rights of Others, and the Prudent Investor Rules By Michael J. Fleck Elder Law, March 2020 The sixth article in a series of articles that break down the Illinois Trust Code.
Liability Issues Facing Estate Planning Professionals By Thomas F. Falkenberg & Kevin T. Mocogni Elder Law, March 2020 A look at the services accountants provide in estate planning and ways estate planning professionals can protect themselves against some of the problems that can arise before and during litigation.
Asset Protection Considerations in Estate Planning By William J. Cotter & Michelle V. Hanlon Trusts and Estates, February 2020 An increasingly important element of estate planning discussions with clients is how to minimize exposure from the claims of creditors.
Estate Planners Vulnerable to Dormant Legal Malpractice Claims By Matthew Hector Elder Law, February 2020 There's a six-year statute of repose for legal malpractice—unless the alleged act or omission isn't discovered until the client dies. Estate planning lawyers want more protection.
1 comment (Most recent February 23, 2020)
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 4 – What Makes a Valid Trust and Revocable Trusts By Michael J. Fleck Elder Law, February 2020 The fourth article in a series of articles that break down the Illinois Trust Code.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 7 – Total Return Trusts, Decanting, Powers of Appointment, and Perpetuities By Michael J. Fleck Trusts and Estates, February 2020 The seventh and final article in a series of articles that break down the Illinois Trust Code.
Case Management Lessons From ‘The Art of War’—Part 1: Introduction By Timothy S. Midura & Colleen L. Sahlas Trusts and Estates, January 2020 This series of articles will challenge you to use 'The Art of War' by Sun Tzu as inspiration to think creatively, strategically, and tactically in your case planning and implementation.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 6 – The Trustee, Trustee Duties, Liability and Rights of Others, and the Prudent Investor Rules By Michael J. Fleck Trusts and Estates, January 2020 The sixth article in a series of articles that break down the Illinois Trust Code.
Stalled SECURE Act Finally Enacted Into Law By Lawrence J. Gregory, JD,CPA Trusts and Estates, January 2020 The SECURE Act will make it easier for individuals to save for retirement, however, in order to pay for these new saving options, the SECURE Act restricts a popular estate planning technique commonly used to preserve and grow qualified assets for future generations and defer its eventual taxation.
Claims Against a Decedent’s Non-Probate Property in Illinois By Joel A. Schoenmeyer Trusts and Estates, December 2019 In the near future, the treatment of a decedent’s living trust property will be governed by the terms of the Illinois Trust Code, which becomes effective on January 1, 2020.
1 comment (Most recent December 15, 2019)
Comparison of Citations for Certain Provisions of the Illinois Trusts & Trustees Act and the Illinois Trust Code By Jane Ditelberg Trusts and Estates, December 2019 A chart comparing citations of the Illinois Trusts & Estates Act and Illinois Trust Code.
Illinois Trust Code Defined Terms By Susan T. Bart Trusts and Estates, December 2019 A chart of terms and section numbers for the Illinois Trust Code.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 5 – Creditor Rights, Spendthrift Provisions, & Disabled Beneficiaries By Michael J. Fleck Trusts and Estates, December 2019 The fifth article in a series of articles that break down the Illinois Trust Code.
IRAs and Estate Planning By Alyx P. Durachta Trusts and Estates, December 2019 IRAs and other retirement vehicles can be confusing and complex; inheriting such assets, even more so. This article explores various methods to transfer a participant owner’s IRA after death.
You Can’t Transfer What You Don’t Own—Or Can You? By Sherwin D. Abrams Trusts and Estates, December 2019 When engaging in estate and gift planning, do not rely on your client to tell you what property he/she owns or how title is held.
Checklist for Trustees Under the New Illinois Trust Code By Daniel P. Felix Trusts and Estates, November 2019 A checklist of some key provisions of the new Illinois Trust Code to help trustees get up to speed quickly.
Estate Planners Vulnerable to Dormant Legal Malpractice Claims By Matthew Hector Trusts and Estates, November 2019 There's a six-year statute of repose for legal malpractice—unless the alleged act or omission isn't discovered until the client dies. Estate planning lawyers want more protection.
1 comment (Most recent November 9, 2019)
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 1 – Introduction to the Code By Michael J. Fleck Elder Law, November 2019 The first article in a series of practical articles that break down the recently enacted Illinois Trust Code.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 2—Definitions, Trustee Notification Requirements, and Settlement Agreements By Michael J. Fleck Elder Law, November 2019 The second article in a series of articles that break down the Illinois Trust Code.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 3—Judicial Proceedings, Representation, and Silent Trusts By Michael J. Fleck Elder Law, November 2019 The third article in a series of articles that break down the Illinois Trust Code.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 4 – What Makes a Valid Trust and Revocable Trusts By Michael J. Fleck Trusts and Estates, November 2019 The fourth article in a series of articles that break down the Illinois Trust Code.
Liability Issues Facing Estate Planning Professionals By Thomas F. Falkenberg & Kevin T. Mocogni Trusts and Estates, November 2019 A look at the services accountants provide in estate planning and ways estate planning professionals can protect themselves against some of the problems that can arise before and during litigation.
Update: Estate Planners Are Still Vulnerable to Dormant Legal Malpractice Claims, But ISBA Proposed Legislation Suggests a Reasonable Change to the Law By David C. Thies & Mia O. Hernandez Trusts and Estates, November 2019 The elimination of the estate planner exception to the Illinois Statute of Repose is in the interest of not only of the practicing bar, but also the public at large.
1 comment (Most recent November 9, 2019)
Flinn Report Summary – March 22, 2019 through May 31, 2019 By Joseph P. O’Keefe Trusts and Estates, October 2019 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 3—Judicial Proceedings, Representation, and Silent Trusts By Michael J. Fleck Trusts and Estates, October 2019 The third article in a series of articles that break down the Illinois Trust Code.

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