Publications

Section Newsletter Articles on Trusts and Estates

Stepped-up basis for credit shelter trusts using PEG powers under Illinois law By Robert J. Kolasa Trusts and Estates, April 2016 This article discusses how a surviving spouse may in some scenarios exercise a testamentary special pwer of appointment to create a new (i.e., appointive) trust for remainder CST beneficiaries.
Trustee’s fees: What is “reasonable” compensation? By James M. Lestikow Trusts and Estates, April 2016 The Illinois Trusts and Trustees Act merely states that Trustees are entitled to “reasonable compensation for services rendered.”
Anthony P. Tummelson v. Elizabeth Ann White, 2014 IL App (4th) 150151, December 30th, 2015 By Philip J. Vacco Real Estate Law, March 2016 Would a transfer of funds from one cohabitant to another for the purpose of making mortgage payments, as well as other monthly obligations, be considered a gift or a contribution to the property?
A baker’s dozen considerations before probating small or insolvent decedents’ estates By Colleen L. Sahlas Trusts and Estates, March 2016 This article addresses those cases where probate is optional, and offers a number of factors for you to consider as you and your client determine whether or not probate is the most prudent course of action for a certain insolvent or small estate.
Drafting a deed in trust without destroying tenancy by the entirety By Frank Greenfield Trusts and Estates, March 2016 A recent Illinois case illustrates how to maintain the protection of tenancy by the entirety when funding a revocable living trust with the marital home.
Illinois’ new small estate affidavit By Lauren Evans DeJong General Practice, Solo, and Small Firm, March 2016 A small estate affidavit allows for the administration of small estates (in Illinois, personal assets valued under $100,000) without the necessity of court proceedings.
Flinn Report Summary – January 4, 2016 through January 29, 2016 By Joseph P. O’Keefe Trusts and Estates, February 2016 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.
Heckerling 2016 reviewed By Timothy S. Midura Trusts and Estates, February 2016 An overview of the recent Heckerling conference.
2016 estate tax summary By Jeffrey R. Gottlieb Trusts and Estates, January 2016 An executive summary of the current Federal and Illinois estate, gift and generation skipping tax exemptions and rates for 2016.
Flinn Report Summary—December 4, 2015 through December 28, 2015 By Joseph P. O’Keefe Trusts and Estates, January 2016 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Proposed legislation: Illinois Trust Code By Susan T. Bart Trusts and Estates, January 2016 The ITC will provide practicing attorneys, trustees, trust beneficiaries and other parties dealing with trusts clear, expansive, and easily accessible guidance on trust law questions.
Caselaw update By Raymond W. Prather Trusts and Estates, December 2015 Three recent cases of interest to trusts & estates practitioners.
Flinn Report Summary—October 15, 2015 through November 30, 2015 By Joseph P. O’Keefe Trusts and Estates, December 2015 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Flinn Report Summary – September 4, 2015 through October 16, 2015 By Joseph P. O’Keefe Trusts and Estates, November 2015 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.
A message from the Chair By Tracy S. Dalton Trusts and Estates, November 2015 Section Chair Tracy Dalton urges document drafters to take advantage of the review opportunities offered by many corporate fiduciaries in order to eliminate unnecessary confusion.
How do you trust? By Amanda B. Puplava and Robert W. Kaufman Trusts and Estates, October 2015 When the Second District Appellate Court released its opinion in the Estate of Diane Mendelson v. Michael Mendelson, it was probably unaware that the decision would spark the highest level of volume on any issue to date on the ISBA's Trusts & Estates Section Discussion Group, with wide-ranging comments regarding the underlying premise for the decision, and whether or not it established new law in Illinois.
Flinn Report Summary – July 6, 2015 through August 28, 2015 By Joseph P. O’Keefe Trusts and Estates, September 2015 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Flinn Report summary – May 15, 2015 through June 26, 2015 By Joseph P. O’Keefe Trusts and Estates, August 2015 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Legislative update By Justin J. Karubas Trusts and Estates, August 2015 Legislation of interest to trusts & estates practitioners.
Flinn Report summary – April 10, 2015 through May 8, 2015 By Joseph P. O’Keefe Trusts and Estates, June 2015 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.
Gun trusts… By Darrell Dies Trusts and Estates, June 2015 With the recent adoption of the right-to-carry in Illinois under the Firearm Concealed Carry Act, an Illinois attorney might be confronted with a client that wants and/or believes there is a need for a gun trust.
Present gift or future interest? The enforceability of gifting to a Crummey Trust with a religious arbitration panel requirement By Sean D. Brady and Bryan Wellner Trusts and Estates, June 2015 Are you looking for law clarifying when a gift is a gift of a present interest? Are you looking for law on a religious arbitration panel requirement in an estate plan? If you answered yes to either of those questions, then take a look at Mikel v. Comm’r.
Beneficiaries beware: Enforceability of spendthrift clauses in bankruptcy after In re: Castellano By Aaron T. Troy Trusts and Estates, May 2015 The Bankruptcy Court’s broad interpretation of the phrase “self-settled trust or similar device” as used in Section 548(e) was rejected. But the Castellano case is still a relevant look into the scope of Section 548(e) and the effectiveness of spendthrift trusts in bankruptcy.
Accountant privilege in Illinois after Brunton v. Kruger By Hilary E. Wilde Trusts and Estates, April 2015 In Brunton v. Kruger, the Illinois Supreme Court was called upon to interpret Illinois’ statutory accountant privilege.
Another method of will revocation - from Estate of Stoker, 193 Cal. App. 4th 236 (Cal. 2011) Trusts and Estates, April 2015 A rather unusual, yet apparently effective method of revoking a will.
Ernie Banks: A primer By Tim Ritchey and Madeleine Minton Young Lawyers Division, April 2015 Legendary Chicago Cubs player Ernie Banks’ story is a learning moment for any lawyer who may face the issue of undue influence.
Flinn Report summary – January 23, 2015 through April 3, 2015 By Joseph P. O’Keefe Trusts and Estates, April 2015 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.
Valuation sanity revisited By Tony Garvy and James Arogeti Trusts and Estates, April 2015 What does the Ninth Circuit’s reversal of the U.S. Tax Court in Estate of Natale B. Giustina portend for valuations of minority interests?
The implications of political positions on tax reform for estate planning By Richard A. Sugar Trusts and Estates, March 2015 A look at tax reform proposals from different political philosophies.
Reflections from the 2015 Heckerling Institute By Timothy S. Midura Trusts and Estates, March 2015 Author Timothy Midura attended the 2015 Heckerling Institute and shares his perspectives.