Real Estate and Avoiding Probate: The Case for Land TrustsBy David J. LanciottiFebruary 2013Article, Page 86While both land trusts and transfer on death instruments allow residential real estate to transfer outside probate, the land trust has important advantages for some clients, this author argues.
Making Gifts Can Reduce Illinois Estate TaxesBy Robert J. KolasaDecember 2012Article, Page 646Recent Illinois legislation established higher estate tax exclusion amounts. Learn how clients can use gifts to substantially reduce Illinois estate taxes.
Illinois Estate and Generation-Skipping Transfer Tax returnNovember 2012Illinois Law Update, Page 580The Attorney General recently implemented revisions to the regulations governing estate tax treatment of civil unions. 86 Ill. Adm. Code 2000.
Paying for Long-Term Care in IllinoisBy William Siebers and Zach HesselbaumOctober 2012Article, Page 536There are five ways to pay for long-term care in Illinois. This article discusses all five and brings you the latest on the ever-shifting Medicaid and Veterans' Administration rules.
Dynasty Trusts for EveryoneBy Mary D. CascinoAugust 2012Column, Page 440Dynasty trusts give even those of ordinary means a way to minimize estate taxes prospectively.
New Long-Term Care Medicaid Rules Finally Come to IllinoisBy Diana Law and William SiebersJanuary 2012Article, Page 30Effective January 1, Illinois finally brought its Medicaid rules for long-term care into compliance with federal requirements. The new rules make it harder for Illinois long-term care recipients to protect their assets while preserving Medicaid eligibility. Here's what you need to know.
The Transfer on Death Instrument Comes to IllinoisBy Charles G. BrownDecember 2011Article, Page 618Effective January 1, Illinois law gives your clients a convenient way to transfer residential real estate outside of probate. Here's a review of the new law by one of its drafters.
Attention estate planners: new Medicaid asset transfer rules finally adoptedBy Helen W. GunnarssonNovember 2011Lawpulse, Page 550New state regulations, passed in response to federal requirements after years of delay, make it harder for nursing home care recipients to both shelter assets and stay eligible for Medicaid.
Looking at 2011 and BeyondBy Mary Cascino and Katarinna McBrideNovember 2011Column, Page 584A late-2011 look how recent rulings should influence your estate-planning advice.
Illinois Estate Planning in Uncertain TimesBy Steven E. SiebersSeptember 2011Article, Page 448What happens if the federal estate tax exclusion goes back to $1 million? What are the implications of decoupling the Illinois from the federal tax? A look at these and other questions.
Planning for a Civil LifeBy Katarinna McBrideAugust 2011Column, Page 421Illinois' civil union law presents opportunities and challenges to those who advise same-sex couples.
Life Insurance Proceeds Are Exempt From Creditors - Or Are They?By Thomas A. Pasquesi and Thomas M. BadenhausenMay 2011Article, Page 254The law exempts life insurance policy proceeds from the claims of a decedent-insured's creditors. But exceptions give creditors an opportunity to recover.
Mind the gap: Illinois taxes estates over $2 millionBy Helen W. GunnarssonFebruary 2011Lawpulse, Page 66Illinois' new estate tax kicks in at $2 million, not $5 million like its federal counterpart. That creates some estate-planning challenges for Illinois residents.
Plan for administering your digital estateBy Helen W. GunnarssonFebruary 2011Lawpulse, Page 66If you don't write your passwords down somewhere, what will happen to your digital world after you die?
A Sigh of Tax ReliefBy Katarinna McBrideFebruary 2011Column, Page 100There's a lot for estate planners to like about the new federal tax law.
Clearer Guidance for Estate Planning LawyersBy Katarinna McBride and Graham B. SchmidtAugust 2010Column, Page 433What about clients with diminished capacity? Confidentiality and prospective clients? Here's a look.
Compensation for Family CaregiversBy Margot GordonMay 2010Article, Page 256Custodial claims enable family members who cared for a now-deceased relative to be compensated for their years of unpaid or underpaid caregiving. Here's how it works.
The Estate Tax- dumped on New year's EveBy Katarinna McBrideFebruary 2010Column, Page 104Congress defied the conventional wisdom and let the estate tax die. What will replace it?
The Illinois QTIP Election to the RescueBy Robert J. KolasaDecember 2009Article, Page 612Big news for estate planners - the new Illinois QTIP lets clients use the full federal exclusion without Illinois estate tax consequences.
Stranger-Owned Life Insurance: The Rewards: a Fictional Case StudyBy Stephen M. Margolin and Valerie J. FreireichNovember 2009Article, Page 568An elderly - and wealthy - person lets investors buy insurance on his life in return for cash, and everyone makes money. Or do they?
ANATOMY OF A WILL: A Step-By-Step GuideBy Helen W. GunnarssonOctober 2009Article, Page 506A step-by-step primer on simple wills for newbies, litigators, and other will-drafting novices.
Winning at Darwin's GameBy Katarinna McBrideAugust 2009Column, Page 420Survivor-style challenges and opportunities confront estate planners.
Five Wishes: "zero cases of litigation"June 2009Column, Page 274We're flattered that authors Koenig and Hyde ("Be Careful What You Wish For: Analyzing the Five Wishes Advance Directive," IBJ May 2009) pored over our document, and as would a law student studying a model contract, found areas that might-could-maybe-potentially become a problem.
