Trusts & Estates

The newsletter of the ISBA’s Section on Trusts & Estates

ISBA Members, please login to join this section

2020 Articles

15th Judicial Circuit Probate Hearings Current as of November 16, 2020 By Heather McPherson December 2020 Procedures for virtual probate proceedings in the 15th judicial circuit.
2021 Retirement Savings Limitations Released By Kathryn Van Eeuwen December 2020 A summary of IRS Notice 2020-79's retirement savings plan limitations for 2021.
Are Your Remote Signings Camera Ready? By Daniel S. Ebner June 2020  On March 26, 2020, Governor Pritzker signed State of Illinois Executive Order 2020-14 that allows for remote ink notarization and witnessing of a variety of documents including what are commonly considered estate planning documents like wills, trusts, and power of attorney documents. 
1 comment (Most recent June 15, 2020)
Asset Protection Considerations in Estate Planning By William J. Cotter & Michelle V. Hanlon February 2020 An increasingly important element of estate planning discussions with clients is how to minimize exposure from the claims of creditors.
At the Intersection of Trust Administration and Real Estate: Sibling Rivalry and the Family Home By Nicole M. Soltanzadeh October 2020 As the case of Ashby v. Pinnow, et al. demonstrates, settlors and trustees are best advised to keep these key concepts in mind when creating and administering a trust.
Back to Basics: An Estate Planner’s Guide to Self-Reflection and Review of Best Practices When Advising Clients on Naming an Appropriate Fiduciary By Lauren Pierucci August 2020 Steps to take, as a practitioner and advisor, when guiding your clients through the process of naming a fiduciary and challenge yourself to create your own best practices to set yourself apart from the rest.
Beauty and the Beast: Spendthrift Trust Meets the SECURE Act By Curt W. Ferguson April 2020 The SECURE Act, contrary to popular opinion, is not forcing us to choose between asset protection planning and income tax planning.
The CARES Act Provides Tax Relief for Individual Taxpayers By Lawrence J. Gregory, JD,CPA April 2020 On March 27, 2020, the president signed the Coronavirus Aid, Relief, and Economic Security Act—the largest stimulus package in American history—into law.
Case Management Lessons From ‘The Art of War’ Part 2: Substance and Application By Timothy S. Midura & Colleen L. Sahlas April 2020 The second in a three-part series of articles that extrapolates case management lessons from military principles taught in The Art of War by Sun Tzu.
Case Management Lessons From ‘The Art of War’ Part 3: Substance and Application (Continued) By Timothy S. Midura & Colleen L. Sahlas June 2020 The final article in a series of articles which extrapolates case management lessons from military principles taught in 'The Art of War' by Sun Tzu.
Case Management Lessons From ‘The Art of War’—Part 1: Introduction By Timothy S. Midura & Colleen L. Sahlas January 2020 This series of articles will challenge you to use 'The Art of War' by Sun Tzu as inspiration to think creatively, strategically, and tactically in your case planning and implementation.
Considerations for the Zoom Era of Client Conferences By Jodie Distler July 2020 A look at the risks involved in using video conferencing technology.
Cook County Probate Division’s Virtual Hearing Process By Melissa Grisoni October 2020 A look at how virtual hearings work.
Cook County Probate Division’s Virtual Hearing Process: An Update By Sarah LeRose December 2020 The Cook County Probate Division has amended General Order 2020-08, issued additional Zoom hearing access codes, added two new judges to the floor, and reinstituted its formal mediation calendar.
Cook County Recorder of Deeds Rejects Transfer on Death Instruments February 2020 Recently, the Cook County Recorder of Deeds has been rejecting proffered Transfer on Death Instruments unless the document contains both the document number of the last duly recorded deed and the date of that recording.
COVID-19: Implications on Illinois Contract Law and the Doctrine of Commercial Frustration By Thadford A. Felton May 2020 COVID-19 is impacting businesses and their operations, and parties are looking for guidance in the event that one or the other party to a contract is, or claims to be, unable to fulfill its contractual obligations.
Creative Estate Planning: Solving Common Estate Planning Problems With Innovative Solutions By Kenneth Adam Piercey, J.D. March 2020 Examples of innovative estate planning strategies that can be used to achieve better outcomes for clients.
Creditor General Powers of Appointment: What Are the Tax Considerations if State Law Limits Appointive Property to the Underlying Debt for GPAs? By Robert J. Kolasa November 2020 Basis optimization for credit shelter and irrevocable trusts often involves granting the trust beneficiary a general power of appointment over trust assets to achieve stepped-up basis.
Elder Law Case Summaries: April 1, 2019-March 31, 2020 By John Foltz June 2020 Summaries of written decisions issued in cases of interest to the elder law practitioner.
Estate of Jezewski v. Jaworski: A Warning on Joint Tenancy By Thomas A. Ball July 2020 Estate of Aniela Jezewski v. Elizabeth Jaworski and Kaziemerz Jaworski, which deals with the title to a house in Chicago, tells us that the presumption of tenancy in common and the four unities that defend the presumption still matter.
Estate Planning for Frequent Flier Miles By Robert L. Schur March 2020 Planning for disposition of airline miles at death represents a new, largely untapped opportunity for estate planning attorneys to be relevant to clients without estate tax issues.
Estate Planning for the Critically Ill: A Case Study With Practice Tips By Zisl Edelson, J.D., MBA August 2020 Estate planning tips for attorneys working with critically ill clients.
Flinn Report Summary – August 2, 2019 through November 22, 2019 By Joseph P. O’Keefe March 2020 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 14, 2020 through April 24, 2020 By Joseph P. O’Keefe October 2020 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report.
Formula General Powers of Appointment to the Rescue By Robert J. Kolasa June 2020 Because of the high exclusion, many credit shelter trusts won't save estate taxes, yet will undesirably deprive the family of stepped-up basis at the death of the surviving spouse. 
How Limited Is Limited Liability? By David K. Staub May 2020 By acting responsibly and taking a few precautions, the limited liability of the LLC is a major benefit over a sole proprietorship, general partnership, or even a limited partnership.
Illinois Attorney General Has Ramped Up Illinois Estate Tax Audits By Ryan A. Walsh October 2020 Summaries of three cases from the last year in which Illinois estate tax returns were audited when no federal audit took place.
Illinois’ Testamentary Exception to the Attorney-Client Privilege By Adrian Mendoza November 2020 While many believe the attorney-client privilege is inviolate, there are certain exceptions.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 6 – The Trustee, Trustee Duties, Liability and Rights of Others, and the Prudent Investor Rules By Michael J. Fleck January 2020 The sixth article in a series of articles that break down the Illinois Trust Code.
The Illinois Trust Code: What Is It and What Do I Need to Know? Part 7 – Total Return Trusts, Decanting, Powers of Appointment, and Perpetuities By Michael J. Fleck February 2020 The seventh and final article in a series of articles that break down the Illinois Trust Code.