Renegotiating debt? Beware of tax trapsBy Steven W. SwibelCommercial Banking, Collections, and Bankruptcy, August 2009In a non-bankruptcy, noninsolvency context, debtors and creditors are often surprised that a debt modification that does not appear to reduce principal or the effective interest rate may nevertheless result in adverse tax consequences.
Renegotiating debt? Tax traps for creditorsBy Steven W. SwibelCorporate Law Departments, June 2009Tax consequences of debt modification are not only a debtor’s concern. Creditors are often surprised that debt modification can result in unanticipated adverse tax consequences.
Reorganization will strengthen the ISBA’s diversity effortsBy Alice M. Noble-AllgireWomen and the Law, December 2009You may not have heard any hammers or saws, but the ISBA recently completed a major renovation of its diversity-related committees and sections councils—a renovation that is already seeing substantial dividends in terms of greater efficiency and collaborative creativity.
Report on ABA YLD meeting, BirminghamBy Gina Arquilla DeBoniYoung Lawyers Division, December 2009The ABA Young Lawyers Division held its Fall Conference on October 22-24, 2009 in Birmingham, AL.
Representing hoardersBy Michelle SternbergElder Law, October 2009In order to provide good representation to hoarders, it is important to understand the condition.
Representing impaired clients: Challenge and opportunityBy Annemarie E. KillWomen and the Law, March 2009The ISBA Standing Committee on Women and the Law, in conjunction with the ISBA Standing Committee on Delivery of Legal Services, the ISBA General Practice Solo and Small Firm Section Council, and the Illinois Supreme Court Commission on Professionalism, presented a program entitled “Ethically and Effectively Representing Clients with Substance Abuse and Mental Health Problems” at the ISBA Mid-Year Meeting on December 12, 2008.
A response to Attorney General Eric Holder’s remarksBy Andrea FlynnDiversity Leadership Council, June 2009As lawyers, we are trained to tackle intellectual problems daily; however, a lack of diversity and troubled race relations cannot be easily analyzed and solved like a legal issue.
Retention of e-mail: Why bother?By Michael D. GiffordLaw Office Management and Economics, Standing Committee on, February 2009Does your firm need a policy for managing retention and preservation of e-mail? YES; even the smallest organizations are wise to invest the time and effort to craft such a policy.
Review of Adobe Acrobat 9By Bryan SimsLegal Technology, Standing Committee on, February 2009The author strongly suggests upgrading to version 9.
Review of Pacific Bell Telephone Co. v. linkline Comm., Inc.By Jamie ManningJune 2009In Pacific Bell Telephone Co. v. linkline Communications, Inc., the Supreme Court ruled that a plaintiff cannot bring a valid price squeeze claim where the defendant has no antitrust duty to deal with its competitors.
A review of the 29th Annual National Conference of State Tax JudgesBy Hon. Alexander P. WhiteState and Local Taxation, November 2009The 29th Annual National Conference of State Tax Judges (NCSTJ) convened on September 24-26, 2009 at the Commander Hotel in Cambridge, MA.
Road map to closing on a co-operative apartmentBy Roberta C. ConwellReal Estate Law, June 2009When the real estate practitioner encounters a co-op transaction for the first time, it is not a smooth ride. There are numerous roadblocks that pop up and you have to know how to get around them. This is not the same as selling a house or a condo. In the interest of saving yourself from having to re-invent the wheel, you can use the following roadmap as a starting point in your research.
The Roth decision in 2010: Conversions and afterthoughtsBy David A. BerekTrusts and Estates, November 20092010 promises to be an opportunistic year for Roth IRA planning, and an interesting year to say the least from a tax legislation standpoint.
Rural lender advantageBy Lewis F. MatuszewichCommercial Banking, Collections, and Bankruptcy, January 2009The United States Small Business Administration has introduced a modification of one of its loan programs, specifically designed to foster economic development in rural areas.
“Safe haven” adoptionsBy Don C. HammerChild Law, March 2009If the practitioner receives a call from prospective adoptive parents, or from an agency, informing the practitioner that a baby had been abandoned pursuant to the Abandoned Newborn Infant Protection Act, what should the practitioner know and do?
The Safety GRAT™By Robert T. NapierTrusts and Estates, June 2009Many clients believe that the greatest enemy to their wealth is the federal estate tax. The reality is that very few estates actually pay a federal estate tax and current estimates are that fewer than 20,000 estates annually will actually pay the federal estate tax. Furthermore, it is understood that quality estate planning can materially reduce, if not eliminate, any tax due.
The School of 529: Learning by Trial and ErrorBy Katarinna McBrideTrusts and Estates, September 2009Section 529 plans are an attractive and convenient means of saving for college that offer substantial tax benefits.
SCINS, GRATS and IDGTs: Acronyms that present planning opportunities in a low-interest environmentBy Jesse T. CoyleTrusts and Estates, February 2009With interest rates at historical lows, several wealth transfer techniques offer high net worth individuals an excellent opportunity to transfer wealth to their descendants at a minimal cost. These techniques benefit from low interest rates. Two sophisticated estate planning techniques that benefit from a low interest rate environment are the SCIN and the GRAT.
SCRAM: A sentencing option in alcohol-related offensesBy Hon. Gregory Paul VazquezCriminal Justice, October 2009Attorneys and judges have been seeking optimal sentencing alternatives in cases where alcohol has either played a part in the offense or is a factor that needs to be addressed during the defendant’s sentencing hearing. A relatively recent option is the Secure Continuous Remote Alcohol Monitoring system, commonly referred to as SCRAM.
Scrivener be aware: Attention to detail is essential in vendor’s endorsementsBy Hon. James Fitzgerald Smith & Julia Illman ManessCivil Practice and Procedure, February 2009A recent opinion by the Illinois appellate court, First District, Fifth Division, reminds us that attention to detail when drafting a vendor’s endorsement in an insurance contract is of utmost importance.