Section Newsletters

Articles on Trusts & Estates

What did the testator really want? Trusts and Estates, December 2002 How would you distribute this estate?
Although an attorney’s fee may qualify as a trust administrative expense, it not be deductible for federal tax purposes By Edward Campell Trusts and Estates, November 2002 State law controls whether an attorney's fee is a valid administration expense payable from a trust's corpus, but federal law controls the federal tax implications.
The IDIT—What, why, how By Jay S. Goldberg Trusts and Estates, November 2002 In our world of acronyms, this has come to refer to the Intentionally Defective Irrevocable Trust--a trust so designed that it is excluded from the estate of the grantor but the grantor is, under the grantor trust rules, treated as the "substantial owner" and taxable on the income.
Odds and ends By Mark E. Zumdahl Trusts and Estates, November 2002 Private Letter Ruling 200234019 is a taxpayer friendly ruling which could apply in a future estate you handle.
Protecting charitable gifts By Marilyn Ratay Trusts and Estates, November 2002 In In re Estate of Lind, 734 N.E. 2d 47 (Ill. App. 2000), the Illinois appellate court protected a charitable devise from failing.
Recent developments in estate and gift tax By Michael L. English Trusts and Estates, November 2002 The tax court, in Christine M. Hackl, 118 T.C. No.14, ruled that gifts of ownership interests in a limited liability company did not qualify for the section 2503(b) annual gift tax exclusion where the ownership interests failed to confer substantial present economic benefits to the recipients.
Alternatives in administering a decedent’s assets By Jane Hartley Pratt Trusts and Estates, September 2002 Traditional estate administration includes either administration fully supervised by the court or the minimally supervised "independent administration."
Practice pointers By James K. Say Trusts and Estates, September 2002 Readers are advised that an excellent summary exists at the FDIC Web site, (www.fdic.gov), for avoiding mistakes in FDIC insurance coverage.
Recent decisions By James K. Say Trusts and Estates, September 2002 In re Estate of John R. Lundahl, Docket No. 2-01-0508, 2002 Ill. App. ___, July, 2002. A claimant to the estate, Elizabeth Gabel, had pursued payment arising from a 1990 agreed order.
From the editors Trusts and Estates, June 2002 We have three excellent articles authored by section council members. The first, by Franklin M. Hartzell, examines the details and requirements for the execution of estate planning documents.
Innocent spouse relief update By Robert Weber Trusts and Estates, June 2002 One would think that with the Tax Relief Credit issues, and the relief to victims of the September 11th terrorist acts, the IRS wouldn't have time to do much with respect to Innocent Spouse Relief, but they still managed to have a "full plate."
Practical considerations in the execution of estate planning documents—beware of the bomb By Franklin M. Hartzell Trusts and Estates, June 2002 In the execution of estate planning documents, whether you believe the execution to be such that the instrument or instruments are contest proof or you have concern that the documents might be contested, certain safeguards should be established.
Recent decisions By Mark E. Zumdahl Trusts and Estates, June 2002 Hurst v. Hurst, decided by the Fourth District Appellate Court under Case No. 4-01-0528, gives us a little bit of everything. Chuck Hurst died in June, 1998. He had two children by his prior marriage, Lori and Todd.
From the editors Trusts and Estates, April 2002 We begin with an article by section council member Thorpe Facer on the Garrett case, which was reviewed in the prior newsletter.
Garrett revisited By Thorpe Facer Trusts and Estates, April 2002 In Re Estate of Pearl Garrett, No. 3-01-0066, (2001 Ill. App. Lexis 748), decided by the Third District on September 21, 2001, and briefly summarized in a previous newsletter, is interesting enough to examine in more detail.
Practice tips By James K. Say Trusts and Estates, April 2002 The Victims of Terrorism tax Relief Act (P.L. 107-134) was signed into law by President Bush on Jan. 23, 2002. The Act provides income and estate tax benefits to victims of the Oklahoma City bombing, the September 11 attacks, and the anthrax attacks.
Recent decisions By James K. Say Trusts and Estates, April 2002 The Society of Lloyd's v. Estate of John William McMurray & Harris Trust and Savings Bank, ___ F. 3rd ___, No. 01-1965, 7th Cir, December 11, 2001. McMurray was one of the individual underwriting members of Lloyd's, also known as "Names."
Recent developments in estate and gift tax By Michael L. English Trusts and Estates, April 2002 The Chief Counsel's Office in Legal Memorandum 200141013 addressed the issue of a refund of estimated estate tax paid with a request for an extension of time to file a federal estate tax return.
Special trusts By Michael C. Wiedel Trusts and Estates, April 2002 In estate planning as well as asset management, the dilemma of the adult disabled child often presents itself.
Strategies for estate planning: A summary of EGTRRA 2001 provisions with immediate effect on planning By James M. Lestikow Trusts and Estates, April 2002 After all the rhetoric in Congress, and by the President, on the need to do away with "death taxes," the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) was enacted.
Chasing custodial claims By Malcolm L. Morris Trusts and Estates, November 2001 No doubt many an attorney has heard a tale of woe from a disappointed client who was unexpectedly excluded from a will notwithstanding the testator's promise to the contrary.
A fiduciary relationship may exist based on a reposition of trust By Shannon DeLaMar Trusts and Estates, November 2001 Is a fiduciary relationship created only when the ink dries on a power of attorney or upon the filing of an acceptance of the office of executor?
From the editors Trusts and Estates, November 2001 Several contributors have provided insights into various areas of our practice. Shannon DeLaMar discusses some of the circumstances in which a fiduciary relationship may be formed by a reposition of trust.
Recent decisions By James K. Say Trusts and Estates, November 2001 In re Estate of Budris Andernovics, Il. Sup. Ct., September 20, 2001. In February 1989, plaintiff Peggy Parrish filed a complaint against the estate of Budris Andernovics, claiming that Andernovics had breached an oral agreement to make specific provisions in his will.
Something old, something new, something borrowed, something blue dealing with the changing tax laws and repeal By Paul A. Meints Trusts and Estates, November 2001 Pending issues--revenue estimates--new demands for funding. Budgetary problems at both the national and state levels in the past, and perhaps (probably?) again in the future (the CBO's latest "on-budget" estimate is a $9 billion deficit in 2001, exclusive of social security which is "off-budget") make it difficult to predict what will happen in the future.
Uses of the Irrevocable Insurance Trust By Jay S. Goldberg Trusts and Estates, June 2001 The ILIT (Irrevocable Life Insurance Trust) has become a standard tool of estate planning, as common as the Marital Deduction and the Credit Shelter Trust (CST).
Calling all government attorneys Trusts and Estates, February 2001 The ISBA's Standing Committee on Government Lawyers wants to include you in its constituency.
Certification: the future ain’t what it used to be By Fred H. Dickson Trusts and Estates, February 2001 In 1999, the Trust and Estates section council asked the Board of Governors of the ISBA to consider a voluntary program for certification of trust and estate planning lawyers in Illinois.
Powers of attorney in light of the Fort Dearborn case By Thorpe Facer Trusts and Estates, February 2001 Fort Dearborn Life Insurance Company v. Holcomb, No. 1-99-3627 (2000 WL 1218507), decided by the First District on August 28, 2000, gives us some interesting facts, a few pointers on using the statutory short form power of attorney for property, and a reminder of the steps we must take with every client to ensure proper planning.
Down and dirty—a non-comprehensive list of 48 (oh-so-easy) ways to sabotage an estate plan Trusts and Estates, November 2000 1. Create a general power when you want to create a special power, or vice-versa ­ and not knowing the difference.

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