2017 Articles

20 estate planning tips By Michael H. Erde September 2017 Practical tips drawn from 48 years of practice, compiled by author Michael Erde.

2 comments (Most recent November 10, 2017)

2016 tax year in review By Paul A. Meints February 2017 A look back at last year and predictions of what's to come.

Agency, Powers of Attorney, co-agency and strict construction By Michael J. Maslanka December 2017 Transactional attorneys and estate planning attorneys need to be aware of not only the language of the court in In Re Estate of Thomas F. Shelton, but in the Illinois Co-Agency statute.

Bank does not owe a duty of ordinary care to maintain and guard a customer’s accounts and protect the account holder from fraud, abuse and waste By Kevin J. Stine September 2017 The First District Appellate Court recently issued its decision in Epstein v. Bochko.

The bond that’s not: How to convey real estate in an unprobated estate By Frank Pellegrini December 2017 Is the “bond-in-lieu-of-probate” right for your clients?

A call to account By Cary A. Lind November 2017 An accounting is supposed to summarize the financial aspects of an estate. It should show everything that comes in, everything that goes out, and the balance remaining.

Case law update By Raymond Prather July 2017 Recent cases of interest.

Case law update By Raymond W. Prather April 2017 These cases were discussed by the ISBA's Trusts & Estates Section Council at its December and February meetings.

Claims in probate By Cary A. Lind October 2017 A look at some of the issues that may arise in dealing with probate claims.

Don’t forget about the charity! Complying with the Charitable Trust Act (760 ILCS 55/1 et seq.) By Sean D. Brady March 2017 If you have a gift over $4,000 to a charity in your probate estate, don’t forget to read the Charitable Trust Act and make sure that your estate representative is complying with the Act.

1 comment (Most recent March 13, 2017)

Double deduction for prepaid farm expenses By Paul A. Meints January 2017 The United States Tax Court issued its opinion on December 8, 2016 in the case of Estate of Steve K. Backemeyer v. Commissioner.

Estate tax account transcript now formally recognized as a substitute for an Estate Closing Letter, but should you use it? By Lawrence J. Gregory July 2017 The IRS recently issued formal guidance on the availability and use of account transcripts in lieu of an Estate Closing Letter. However, practitioners should be careful about its use.

Flinn Report Summary – April 7, 2017 through June 30, 2017 By Joseph P. O’Keefe September 2017 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.

Flinn Report Summary – February 10, 2017 through March 31, 2017 By Joseph P. O’Keefe May 2017 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 6, 2017 through February 3, 2017 By Joseph P. O’Keefe April 2017 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.

Flinn Report Summary – July 7, 2017 through August 25, 2017 By Joseph P. O’Keefe October 2017 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 23, 2016 - December 30, 2016 By Joseph P. O’Keefe February 2017 A summary of Illinois agencies' regulatory decisions that relate to trusts & estates.

Getting to know the Trusts & Estates Council members By Colleen L. Sahlas December 2017 Learn more about Council members Sarah M. LeRose and James Lestikow

Getting to know the Trusts & Estates Council members By Colleen L. Sahlas November 2017 Learn more about Section Council member Tiffanie B. Powell.

Getting to know the Trusts & Estates Council members By Colleen L. Sahlas October 2017 Learn more about Trusts & Estates Section Council members Michael R. Lucas and Michael L. English.

Getting to know the Trusts & Estates Council members By Colleen L. Sahlas September 2017 Learn more about members Steven Novak and Zisl Edelson.

Getting to know the Trusts & Estates council members By Colleen L. Sahlas August 2017 Learn more about members Kathryn Van Eeuwen and Kerry R. Peck.

Heirships By Cary A. Lind July 2017 Everyone has heirs, even if they are distant, unknown, or cannot be located.

1 comment (Most recent July 17, 2017)

In re Estate of Thomas F. Shelton: Insights and impact (Part I) By Kristen Hosack Pace October 2017 This article examines this recent case and explores its potential ramifications, including its impact on litigants claiming breach of fiduciary duty.

1 comment (Most recent October 20, 2017)

In the March issue… By Jennifer Bunker March 2017 An introduction to the issue from Editor Jennifer Bunker.

Include trustee’s acceptance language in an instrument conveying real property out of a land trust into a living trust By Colleen L. Sahlas June 2017 When conveying real property out of a land trust to a living trust, don’t rely on the land trust company to prepare an instrument of conveyance that includes a written acceptance by the trustee of a trust to fulfill the new Illinois Statute at 760 ILCS 5/6.5(a).

IRS inflation adjustments for 2017 By Jennifer Bunker January 2017 The Internal Revenue Service has announced its annual inflation adjustments for tax year 2017.

Is a POA revoked by appointment of a guardian? By Sherwin D. Abrams October 2017 Comparing the cases of <i>In Re Estate of Beetler</i> and <i>In re Estate of Doyle.</i>

Message from the Chair By Robert W. Kaufman July 2017 A message from Section Chair Robert Kaufman.

Mom had a life insurance policy, but we can’t find it! By Michael J. Maslanka August 2017 If the client indicates that he or she cannot find any information about a life insurance policy, but knows that one existed, you can suggest that the client utilize the Illinois Life Policy Locator Service through the Illinois Department of Insurance.