Flinn Report summaryBy Joseph P. O’KeefeTrusts and Estates, September 2014A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Legislation Committee reportBy Robert W. KaufmanTrusts and Estates, September 2014An update to the Committee's July report.
Small estate agreement—Practice tipBy Gary R. GehlbachTrusts and Estates, September 2014The author shares his sample agreement, which is typically coupled with a small estate affidavit.
Spendthrift Trust beneficiary checkmated by Bankruptcy Code 548(e) in CastellanoBy Jay AdkissonTrusts and Estates, September 2014If the Court’s rationale is followed in future cases, millions of existing trusts may be defective as to the operation of their Spendthrift Clause, if the Trust may be deemed to terminate immediately upon the death of the Settlor.
Flinn Report summary—July 2014By Joseph P. O’KeefeTrusts and Estates, July 2014A summary of regulatory decisions of Illinois agencies of interest to trust and estate practitioners.
Small estate administration primerBy Gary R. GehlbachTrusts and Estates, June 2014While administering a decedent’s estate can be quite simple at times, often the attorney will find that there are nuances that require thought and skills that can be utilized to benefit the client.
The accountant-client privilegeBy Matthew A. NelsonTrusts and Estates, May 2014The 4th District Appellate Court recently established an exception to the accountant-client privilege in the case of Brunton v. Kruger.
Ethics corner: Identity fraud in estate planningBy Deborah B. ColeTrusts and Estates, April 2014In light of the increased risk of identity theft, this might be a good time to update your client intake procedures and make sure that your staff is instructed to check for identification before notarizing documents or giving out information.
Estate planning of the rich and famousBy Timothy RtcheyYoung Lawyers Division, February 2014A reminder that even young attorneys should have their estate planning documents in place.
Heckerling reflectionsBy Timothy S. MiduraTrusts and Estates, February 2014The author shares his 'global take-aways' from the January 2014 Heckerling Institute in Orlando.
Pour me another trustBy Heather McPhersonElder Law, November 2013Decanting is a great tool for practitioners to use in one’s estate, trust, and elder law practice, because it allows trusts that could otherwise not be changed to be rewritten to adjust to changed circumstances, as well as for corrections to trusts that were poorly drafted.
Practice Tip—Dealing with beneficiary election in your trustsBy Paul A. Meints & Darrell DiesTrusts and Estates, November 2013Some helpful language that an estate planner might utilize in the client’s inter vivos trust instrument to attempt to deal with the doctrine of election.
Conveying farmland subject to CRP contractsBy Gary R. GehlbachTrusts and Estates, September 2013Farms that include land subject to one or more Conservation Reserve Program contracts are routinely bought and sold. Accompanying this article is a form that the author routinely uses, with appropriate modifications depending on the transaction, for the assignment of a CRP contract.
Essential estate planning for business ownersBy Michael C. FoltzBusiness Advice and Financial Planning, September 2013The conventional estate plan addresses the disposition of assets and mitigation of taxes, while business owners require estate planning and business succession documents that compliment one another.
Luccio, Intentional Interference w/ an Expectancy & the six-month non-claim statuteBy William R. Kuehn & Natalie M. KuehnTrusts and Estates, September 2013Where a trust contest under 8-1(f) is unavailable to a potential plaintiff because of the plaintiff’s lack of awareness, the plaintiff may proceed with an intentional interference claim after the six-month limitation period has run. How much awareness or lack thereof will courts require to determine whether a party is getting a second bite at the apple?
Practice tip—How to plan for digital assetsBy Frank M. GreenfieldTrusts and Estates, August 2013Financial and personal data stored online has value and should be included as a component of the estate planning process.
Captive insurance companies—A reassuring way to self-insureBy Jesse T. CoyleTrusts and Estates, July 2013The author, who recently helped to pass North Carolina's Captive Insurance Company law, discusses this unique estate planning vehicle.
An introduction to probate estatesBy Priscilla SingerYoung Lawyers Division, June 2013A primer for those who have yet to open a probate estate.
Prudent investor rule chiseled away in Carter v. CarterBy Robert S. HeldTrusts and Estates, May 2013Practitioners, mindful of the Carter opinion, must now consider amending existing trust documents or advising their current clients of the altered landscape affecting the duties of a trustee.
Reflections on the Illinois decanting and directed trusts statutesBy Timothy S. MiduraTrusts and Estates, May 2013Having studied the Illinois directed trusts statute and the decanting statute and then working with them practically, the author now makes some reflections and offers some tips.
When to file a probate claimBy Philip E. KoenigTrusts and Estates, May 2013In Water Tower Nursing v. Estate of Weil, the First District Court of Appeals affirmed that merely mailing a copy of a claim to the court or the representative of an estate does not necessarily constitute timely filing.
Every will needs a paragraph allowing for a supplemental needs trustBy Carl M. Webber & J. Amber DrewYoung Lawyers Division, April 2013A will should include a paragraph that allows the Executor to set up Supplemental Needs Trusts, if, at the time of the death of the testator, any beneficiaries qualify under the Social Security Administration’s definition of “disabled.”
It is 10:00 p.m., do you know who are your kids?By Edward R. ShermanTrusts and Estates, April 2013While the case of DeHart v. DeHart involved numerous will contest issues, two issues were addressed that will have a profound effect on estate planning and estate litigation.
