2014 Articles

In the February issue… By Darrell Dies February 2014 An introduction to the issue from Editor Darrell Dies.

In the January issue… By Darrell Dies January 2014 An introduction to the issue from Editor Darrell Dies.

In the June issue… By Darrell Dies June 2014 An introduction to the issue from Editor Darrell Dies.

In the March issue… By Darrell Dies March 2014 An introduction to the issue from Editor Darrell Dies.

In the May issue… By Darrell Dies May 2014 An introduction to the issue from editor Darrell Dies.

In the November issue… By Darrell Dies & Jennifer Bunker November 2014 An introduction to the issue from co-editors Darrell Dies and Jennifer Bunker.

In the October issue… By Darrell Dies & Jennifer Bunker October 2014 An introduction to the issue from editors Darrell Dies and Jennifer Bunker.

In the September issue… By Darrell Dies & Jennifer Bunker September 2014 An introduction to the issue from editors Darrell Dies and Jennifer Bunker.

IRS provides extension for small estates that want portability February 2014 A reminder about the deadline to file a form 706 for portability purposes with respect to decedent’s death in 2013.

ISBA unveils exciting new Member Directory! July 2014 Make sure the other members of the ISBA Trusts & Estates Section know what sets you apart and can find you easily by activating your member directory profile today.

Legally disabled can toll the statute of limitations By Stephen Sotelo October 2014 On August 26, 2014, after passing both houses of the General Assembly unanimously, the Governor signed HB5512 into law, allowing more persons to toll the statute of limitations on account of legal disability.

Legislation Committee report By Justin J. Karubas October 2014 A summary of recent statutory changes in Illinois law of interest to trusts and estates practitioners.

Legislation Committee report By Robert W. Kaufman September 2014 An update to the Committee's July report.

Legislation Committee report—July 2014 By Justin J. Karubas July 2014 The report from the Trusts & Estates Section's Legislation Committee.

Minutes from June 20, 2014 Section Council meeting By Gary R. Gehlbach July 2014 Read what happened at the Section's most recent meeting.

The new emphasis on basis in estate planning By George L. Schoenbeck June 2014 Since the passage of the American Taxpayer Relief Act of 2012 in early 2013, the vast majority of well-structured estate plans balance estate tax considerations, where relevant, with long-term income tax minimization goals and a variety of other estate planning considerations.

The open manhole in ISBA Advisory Opinion No. 13-01 By Cary A. Lind July 2014 The author argues for a change to the ISBA's position.

PDF for trusts and estates attorneys By Patrick Owens & Alan R. Press November 2014 An overview of the different types of PDFs and practical tips and help for using them in your everyday practice.

Probate estate engagement letters and petition for attorney fees in probate court By Richard P. Miller April 2014 A comprehensive engagement letter to the estate’s representative minimizes the possibility of misunderstanding regarding attorney’s fees.

1 comment (Most recent April 24, 2014)

Proposed regulations affecting the uniform basis rule as applied to charitable remainder trusts By Ray Prather July 2014 On January 17, 2014, the IRS issued proposed regulations on uniform basis for charitable remainder trusts.

Residency of Grantor is irrelevant in determining whether Illinois may tax income of inter vivos trusts pursuant to recent Fourth District Appellate Court ruling in Linn v. The Department of Revenue By Jennifer Bunker March 2014 The Fourth District Appellate Court, in Linn v. Dep’t of Revenue recently held that the residency of an inter vivos trust’s grantor in the State of Illinois is insufficient to satisfy due process for income from that Trust to be taxable by the State of Illinois.

Small estate administration primer By Gary R. Gehlbach June 2014 While administering a decedent’s estate can be quite simple at times, often the attorney will find that there are nuances that require thought and skills that can be utilized to benefit the client.

Small estate agreement—Practice tip By Gary R. Gehlbach September 2014 The author shares his sample agreement, which is typically coupled with a small estate affidavit.

2 comments (Most recent September 9, 2014)

Someday all this will be yours: A history of inheritance and old age By Juan C. Antúnez December 2014 The author discusses a Princeton history professor's fascinating study of more than 200 New Jersey appellate opinions involving estate disputes from 1840 to 1940.

Spendthrift Trust beneficiary checkmated by Bankruptcy Code 548(e) in Castellano By Jay Adkisson September 2014 If the Court’s rationale is followed in future cases, millions of existing trusts may be defective as to the operation of their Spendthrift Clause, if the Trust may be deemed to terminate immediately upon the death of the Settlor.

Thank you to our authors By Jennifer Bunker November 2014 A list of those who contributed to this newsletter last year.

Trust taxation and due process By Mary Cascino February 2014 A summary of the recent case of Linn v. Illinois Department of Revenue.

Wake-up call: Wills and Supreme Court Rule 138 By Mary Cascino January 2014 The Trusts and Estates Discussion Group recently brought up a very interesting discussion about Illinois Supreme Court Rule 138, parts of which are to take effect January 1, 2015.

1 comment (Most recent January 28, 2014)

When is misconduct by an attorney not subject to discipline by the ARDC? In re KARAVIDAS, 2013 IL 115767 By Sean D. Brady January 2014 Although the answer might sound obvious, the application of the Rules of Professional Conduct in In re Karavidas might surprise some people.

Why do clients engage estate planners? By Alan R. Press November 2014 Earlier this year, Wealth Counsel and Wealth Management.com released their 7th Annual Industry Trends survey. View some of the highlights here.