Publications

Section Newsletter Articles on Trusts and Estates

Flinn Report Summary – August 5, 2016 through September 16, 2016 By Joseph P. O’Keefe Trusts and Estates, November 2016 A summary of regulatory decisions of Illinois agencies.
In re Estate of Agin By Mary Anne Spellman Gerstner Trusts and Estates, November 2016 The opinion in this case demonstrates the importance of a clear expression of the settlor’s intent in the trust language itself, the meaning of the term per stirpes, and reflects the impediments which exist to presenting extrinsic evidence in interpreting a trust.
The Illinois RUFADAA: Guiding privacy, access and disclosure in the digital age By Jingjing Lin Trusts and Estates, October 2016 This article reviews both the uniform and Illinois law, and discusses the potential impact of the legislation on attorneys assisting clients in the estate planning process.
Release and indemnification of a trustee: Best practice recommendations for practitioners By Anthony L. Engel and Kelli Chase Plotz Trusts and Estates, October 2016 Acting as Trustee can be a risky endeavor. Practitioners can help protect Trustees (and encourage qualified parties to act as Trustee) by explicitly authorizing a Trustee to request a release and indemnification in their trust documents. Some statutory changes could be helpful, as well.
Flinn Report Summary— May 20, 2016 through July 29, 2016 By Joseph P. O’Keefe Trusts and Estates, September 2016 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.
Transfers into trust: A new reality? By Robert W. Kaufmann Trusts and Estates, September 2016 New legislation appears to be an overreaction to the Estate of Diane Mendelson v. Michael Mendelson case.
In re Estate of Agin—Deceased beneficiary of uncle’s land trust outlived uncle but died before distribution of trust sale proceeds. Decedent’s trust share held to be an asset of his estate and did not pass to his children under trust agreement By Mary Anne Spellman Gerstner General Practice, Solo, and Small Firm, August 2016 The opinion in this case demonstrates the importance of a clear expression of the settlor’s intent in the trust language itself, the meaning of the term per stirpes, and reflects the impediments which exist to presenting extrinsic evidence in interpreting a trust.
Drafting an all-star lineup of co-trustees for trust management By Neil T. Goltermann and Daniel S. Porter Trusts and Estates, July 2016 While appointing a team of co-trustees is a great way to take care of each phase of trust management, the following cases provide some specific things to watch out for when drafting the players for the trust management lineup.
Protective trusts without compressed tax brackets for trust management By Curt W. Ferguson Trusts and Estates, July 2016 Has your estate planning business suffered since the American Taxpayer Relief Act of 2012 and the increase in the Illinois estate tax exemption to $4,000,000? Do you find that most people just don’t think there is much of anything they can gain from your counsel?
Flinn Report Summary – April 15, 2016 through May 13, 2016 By Joseph P. O’Keefe Trusts and Estates, June 2016 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 Karubas Trusts and Estates, June 2016 A non-exhaustive list of bills that passed both houses that impact the trusts and estates practice.
Section 529A ABLE accounts opening throughout the United States By Adam M. Ansari Trusts and Estates, June 2016 According to the National Disability Institute, there are 58 million individuals with disabilities in the United States and at least 10% of these individuals would qualify for the creation of an ABLE Account under the current eligibility requirements.
Flinn Report Summary – March 18, 2016 through April 8, 2016 By Joseph P. O’Keefe Trusts and Estates, May 2016 A summary of Illinois agencies' regulatory decisions that relate to trusts & 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.