Publications

Section Newsletter Articles on Trusts and Estates

Illinois legislation update: Trust, probate, powers of attorney, property issues By Lesser, Lutrey & McGlynn LLP Trusts and Estates, June 2011 Legislation affecting trust & estate attorneys.
Poruba v. Poruba: Partitioning a life estate from a remainder interest By Michael R. Lucas Elder Law, June 2011 In Poruba v. Poruba, the Appellate Court affirmed the trial court’s dismissal of the plaintiff’s action finding that a single life tenant has no authority to force a partition upon a single remainderman.
Estate and Gift Tax recent cases and rulings By Joseph P. O’Keefe, Elizabeth C. Hesselbach, and Paul A. Fagyal Federal Taxation, February 2011 A summary of recent cases from the past year.
2010 year-end estate planning: Navigating the uncertainty By Gregg M. Simon Trusts and Estates, December 2010 While many of the usual planning techniques remain viable, the current state of the transfer tax laws provides for additional opportunities but makes 2010 year-end planning a bigger challenge than in past years.
Record low interest rates mean good times for estate planning By Gregg M. Simon Trusts and Estates, December 2010 The current economic environment presents significant opportunities for leveraging tax savings and transferring wealth to descendants on a tax-advantaged basis.
Billion dollar baby: The Supreme Court will once again review Anna Nicole Smith case By Katarinna McBride Trusts and Estates, November 2010 The Court will now review if Ms. Smith (or Ms. Smith’s estate) received a proper hearing in federal courts (a procedural question), and whether state probate courts (Texas) should be the proper venue for hearing such cases.
Estate planning by guardians: The next generation By Robert W. Kaufman Trusts and Estates, November 2010 Although guardianship law has come a long way over the years, recent cases demonstrate there is still conflicting authority on these matters.
A question of health By Jay S. Goldenberg Trusts and Estates, November 2010 Suggested language to add to a statutory form so that medical information can be released to a designated person other than the primary Health Care Agent.
George Steinbrenner’s estate tax homerun By Robert J. Kolasa Trusts and Estates, October 2010 Since Mr. Steinbrenner died in 2010 (a year in which there may be no federal estate taxes), his heirs pitched the proverbial perfect game and escaped with a zero estate tax bill.
Pet trusts: Practice tips for Fluffy (or Fido) By Eugenia C. Hunter Elder Law, October 2010 What will happen to your client's beloved pet if she becomes ill, incapacitated or dies?
Trust TBE Creditor Protection—A bonanza or a boondoggle? By Gregg M. Simon Trusts and Estates, September 2010 Because of uncertainty as to how the Illinois tenancy by the entirety statute may be applied, until clarified by remedial legislation, case law or otherwise, utilization of this statute may not be prudent.
Life insurance litigation post-divorce: Easy to avoid, commonly neglected By Lauren J. Wolven and Ashley Crettol Trusts and Estates, August 2010 Even if a valid waiver is included in the divorce decree, practitioners should also impress upon their clients the importance of changing their beneficiary designations.
The DOs and DON’Ts when seeking fees in probate By Martin W. Siemer Elder Law, June 2010 A recent decision handed down by the First District Appellate Court, In re Estate of Bitoy, provides a good review of fee issues in probate estates.
Exploring and exploiting the Internet: A guide for estate planning attorneys By Jay S. Goldenberg Trusts and Estates, June 2010 Some helpful Web sites and links for Trusts & Estates attorneys.
A frequently asked question of elder law attorneys By Ford C. June III Elder Law, June 2010 A description of Illinois' Health Care Surrogate Act.
Legal business models: Ethical concerns of adjusting to client demands By Darrell Dies Trusts and Estates, June 2010 How do the personalities and expectations of a new generation of clients affect a lawyer's practice?
New senior minefield: The DRA comes to Illinois Elder Law, June 2010 The Federal Deficit Reduction Act of 2005 imposes harsh penalties against seniors who gift money to family members and charities.
Not just a bill By Mary Cascino Elder Law, June 2010 HB 6477, which revises the Illinois Power of Attorney Act to minimize abuses, has passed the Illinois General Assembly and is ready for the Governor to sign.
The “real” living will* By Roza Gossage Elder Law, June 2010 A few light-hearted final words.
2010 Bank Convenience Accounts: An exciting new tool? By Graham Boardman Schmidt Trusts and Estates, May 2010 Many bank customers may find it useful to establish an account that grants possession, but not title, of funds to another individual.
Basis adjustments for 2010 estates: A navigation system for unknown routes By Alan E. Stumpf Trusts and Estates, April 2010 In 2010, the basis of property acquired from a decedent is no longer automatically stepped-up. Rather, the basis is the decedent’s adjusted basis in that property or the fair market value of the property on the date of death, whichever is less.
Ethics corner: Courtesy or controversy—Drafting attorney-reserved power to amend or revoke client’s trust By Donald L. Shriver Trusts and Estates, March 2010 The close relationship you have with your clients may be ample explanation for some unusual fiduciary relationships.
Congress may be frozen, but the Supreme Court is acting! By Philip E. Koenig Trusts and Estates, February 2010 Normally, the activity of the United States Supreme Court and the Illinois Supreme Court has little effect on the work of trust and estate lawyers. In 2009, however, there were three decisions of note: one by the U.S. Supreme Court and two by the Illinois Supreme Court that are of significance and importance to trust and estate lawyers.
Estate tax or not: Reasons your clients still need estate planning By Jodie E. Distler Hanzlik Trusts and Estates, February 2010 The 2010 estate tax “repeal” has not gone unnoticed by most attorneys and certainly has been the subject of intense scrutiny, dialogue and debate among tax planning professionals.
Estate plan prepared by guardian not ripe for challenge By Margot Gordon Trusts and Estates, January 2010 In October 2009, the First District dismissed the appeal of the former caretaker and nephew-in-law of a disabled person (both of whom were named in the disabled person’s prior estate planning documents) of the dismissal of their challenge to the corporate guardian’s new estate plan for the disabled person for lack of standing.
Say bye-bye to passive activity losses: A possible past-time for LLCs and LLPs By Jesse T. Coyle Trusts and Estates, January 2010 Limited liability companies (LLCs) and limited liability partnerships (LLPs) are well ingrained as two of the preferred techniques used by estate planning professionals. Both LLCs and LLPs offer significant advantages that many other techniques do not: valuation discounts, retention of control, and tax efficiency. To the delight of those individuals who use LLCs and LLPs in their estate planning work, the perceived tax efficiency of these methods has improved through two recent court cases.  
Estate tax issues: ISBA’s Section of Federal Taxation liaison meeting with legislative aides, May 6 & 7, 2009 Federal Taxation, December 2009 The debate surrounding the estate tax no longer focuses on eliminating the tax in total. 
The new Illinois QTIP election: Answers to your questions and more questions By Jason S. Ornduff Trusts and Estates, November 2009 After significant discussion and lobbying, Illinois has joined 11 other states in enacting a state-qualified terminable interest property (QTIP) election separate and distinct from the federal QTIP election of I.R.C. Section 2044.
The Roth decision in 2010: Conversions and afterthoughts By David A. Berek Trusts and Estates, November 2009 2010 promises to be an opportunistic year for Roth IRA planning, and an interesting year to say the least from a tax legislation standpoint. 
‘Til death do us part, or sooner: The family law attorney meets estate planning By Michael C. Craven Elder Law, October 2009 Family law attorneys agree that their clients should review their estate plans following a divorce. However, it is equally important to do so if contemplating or in the process of a divorce.