In October’s Illinois Bar Journal, Derek M. Johnson discusses the challenges a decedent’s estate may face if it owes federal income taxes, which may take priority over other claims and expenses, especially when the estate is insolvent. Understanding how and when to pay an estate’s taxes in relation to its other obligations is critical, Johnson advises. In his article, “Debts, Secret Tax Liens, and Other Estate Traps,” Johnson considers options and preventive measures when determining whether taxes are owed by decedents and their estates in probate.

The U.S. and Canada have the largest trading relationship of any two nations on earth. This leads to a concomitant amount of disputes, litigation, and arbitration. Don’t miss this program on Oct. 26 in Chicago or via live webcast that offers both the Canadian and American perspectives regarding some of the most pervasive issues that arise during legal disputes that cross the border.

The nine presidents of Illinois’ law school student bar associations today signed a pledge to improve the wellbeing and mental health of their campuses. The pledge coincides with the American Bar Association’s National Law School Mental Health Day as well as World Mental Health Day.

Asked and Answered  By John W. Olmstead, MBA, Ph.D, CMC Q. I am the owner of a small general practice firm in Novato, Calif. I have three associates working in the firm, three legal assistants, and one office manager/bookkeeper. I started my practice 35 years ago right out of law school. I am 60 years old and wanting to retire within the next five years. None of my associates have the ability or the desire to take over the firm. I believe that my best option is to sell my practice to another practitioner or join another firm through a merger or other arrangement. I would appreciate your ideas regarding merging with another firm and how I would be compensated and receive payment for the goodwill value of my firm.