2015 Articles

2014 year in review— Income tax changes (Part 2) By Paul A. Meints February 2015 On December 19, 2014 the United States Congress passed and the President signed the “Tax Increase Prevention Act of 2014” that is often referred to as an “extenders bill.” This article provides some thoughts to keep in mind related to the above referenced tax legislation.

2014 year in review—Income tax changes (Part 1) By Paul A. Meints January 2015 On December 19, 2014 the United States Congress passed and the President signed the “Tax Increase Prevention Act of 2014” that is often referred to as an “extenders bill.” That is the good news. The bad news is that the extended provisions have already expired, ending December 31, 2014. All efforts at extending for two years failed. This article addresses some of the high points.

Accountant privilege in Illinois after Brunton v. Kruger By Hilary E. Wild April 2015 In Brunton v. Kruger, the Illinois Supreme Court was called upon to interpret Illinois’ statutory accountant privilege.

Amendments to the Illinois Virtual Representation Statute By Susan T. Bart January 2015 The 2015 amendments to the Illinois virtual representation statute make significant improvements to the statute, particularly by permitting beneficiaries to be represented by parents or agents under a power of attorney, and by clarifying the matters that may be resolved by a nonjudicial settlement agreement.

Another method of will revocation - from Estate of Stoker, 193 Cal. App. 4th 236 (Cal. 2011) April 2015 A rather unusual, yet apparently effective method of revoking a will.

Become More Efficient by Using a Probate Checklist By Colleen L. Sahlas September 2015 This checklist is designed specifically for uncontested, testate estates in Independent Administration in Cook County, Illinois. With a little tweaking, it can also be used for other counties in Illinois.

2 comments (Most recent September 30, 2015)

Beneficiaries beware: Enforceability of spendthrift clauses in bankruptcy after In re: Castellano By Aaron T. Troy May 2015 The Bankruptcy Court’s broad interpretation of the phrase “self-settled trust or similar device” as used in Section 548(e) was rejected. But the Castellano case is still a relevant look into the scope of Section 548(e) and the effectiveness of spendthrift trusts in bankruptcy.

Caselaw update By Raymond W. Prather December 2015 Three recent cases of interest to trusts & estates practitioners.

Chair’s column By Mary Lee Faupel June 2015 The final column from Section Chair Mary Lee Faupel.

Ehics corner: Estate planning attorneys should not ignore their own mortality By Michael J. Drabant September 2015 Illinois Supreme Court Rule 756 now requires that in each lawyer’s annual registration, he or she must disclose whether there is a written succession plan in place for their firm.

Estate income tax fiscal year election tips and traps By Steven E. Siebers & Emily Schuering Jones January 2015 If you are involved from time to time in estates that are administered for more than 12 months after death, you should be aware of taxpayer-friendly rules for electing a fiscal year that could minimize income tax liability.

Estate tax return changes By Gary R. Gehlbach November 2015 On June 16, 2015, the IRS announced that it would no longer automatically issue estate tax closing letters for estates filed after May 31, 2015.

Flinn Report summary – April 10, 2015 through May 8, 2015 By Joseph P. O’Keefe June 2015 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.

Flinn Report Summary – December 9, 2014 through January 16, 2015 By Joseph P. O’Keefe February 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 – January 23, 2015 through April 3, 2015 By Joseph P. O’Keefe April 2015 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.

Flinn Report Summary – July 6, 2015 through August 28, 2015 By Joseph P. O’Keefe September 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 – May 15, 2015 through June 26, 2015 By Joseph P. O’Keefe August 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 November 2015 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.

Flinn Report Summary—October 15, 2015 through November 30, 2015 By Joseph P. O’Keefe 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 9, 2014 through December 12, 2014 By Joseph P. O’Keefe January 2015 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.

Getting to know the Trusts & Estates Section Council members By Jennifer Bunker March 2015 Learn more about Section Council members Jeffrey G. Liss and Heather A. McPherson.

Getting to know the Trusts & Estates Section Council members By Jennifer Bunker January 2015 Learn more about Trusts & Estates Section Council members Justin Karubas and Diana M. Law.

Gun trusts… By Darrell Dies June 2015 With the recent adoption of the right-to-carry in Illinois under the Firearm Concealed Carry Act, an Illinois attorney might be confronted with a client that wants and/or believes there is a need for a gun trust.

How do you trust? By Amanda B. Puplava & Robert W. Kaufman 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.

The Howell decision and the future of estate planning for adult disabled clients By Sarah LeRose October 2015 In light of Estate of Howell v. Howell, an estate guardian of a disabled adult may propose an estate plan which deviates from intestacy, provided the guardian believes that the proposed plan is in keeping with the ward’s wishes.

Illinois blocks inheritance rights and social security benefits of posthumously conceived children By David Shayne August 2015 Loss of survivor benefits may have severe consequences for infants whose parent predeceased them and who happened to choose the wrong state to be born in, especially if the law of that state is not settled.

The implications of political positions on tax reform for estate planning By Richard A. Sugar March 2015 A look at tax reform proposals from different political philosophies.

2 comments (Most recent March 17, 2015)

In the April issue… By Darrell Dies & Jennifer Bunker April 2015 An introduction to this month's issue from co-editors Darrell Dies and Jennifer Bunker.

In the August issue… By Jennifer Bunker August 2015 An introduction to the issue from Editor Jennifer Bunker.

In the December issue… By Jennifer Bunker December 2015 An introduction to the issue from Editor Jennifer Bunker.