Trusts & Estates

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

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2022 Articles

ABLE Accounts: A Primer for Illinois Lawyers—Part 1 By Leonard F. Berg June 2022 It is important for Illinois attorneys to know the basics of ABLE accounts and how their capability can be enhanced with special needs trusts.
ABLE Accounts: A Primer for Illinois Lawyers—Part 2 By Leonard F. Berg July 2022 It is important for Illinois attorneys to know the basics of ABLE accounts and how their capability can be enhanced with special needs trusts.
ABLE Accounts: A Primer for Illinois Lawyers—Part 3 By Leonard F. Berg August 2022 The third and final article in a series of articles about ABLE accounts.
CFPB Issues Guidance on Nursing Home Debt By Zisl Edelson, J.D., MBA October 2022 Recently, the Consumer Financial Protection Bureau issued a policy statement clarifying the interplay between the Federal Nursing Home Reform Home Act, the Fair Debt Collection Practices Act, and the Fair Credit Reporting Act with respect to nursing home contracts and debt collection practices for unpaid nursing home bills.
Cook County Probate Court News By Colleen L. Sahlas October 2022 Updates from the Cook County Probate Court.
Cook County Update April 2022 An update on when it is necessary to notify the State's Attorney's Office for Cook County probate matters.
Editors’ Notes By Jennifer Bunker Skerston & Mia O. Hernandez July 2022 A note from the editors.
Estate Planning and Administration of Oil and Gas Interests: Part 1 By George C. Lackey April 2022 An overview of how oil and gas interests intersect with estate planning administration.
Estate Planning and Administration of Oil and Gas Interests: Part 2 By George C. Lackey May 2022 Forms and templates of interest to trusts and estates practitioners dealing with oil and gas interests.
Exploring Tax-Efficient Planned Giving Techniques to Benefit the Illinois Bar Foundation By George L. Schoenbeck November 2022 The Illinois Bar Foundation has long championed its Lincoln Legacy Society, which recognizes and honors those members of our profession who have pledged to leave a testamentary gift to the IBF.
A Failed Tenancy by the Entirety Becomes What? By Michael J. Rooney March 2022 In a case of first impression in Illinois, an appellate court considered how a married couple hold title to real property when a conveyance to them as tenants by the entirety fails to create that estate and one of the grantees then dies.
Find My ICash: How to Collect Unclaimed Property in Illinois By Marcos Resendiz October 2022 An overview of what unclaimed property is and how to claim it in Illinois.
Flinn Report Summary – October 1, 2021 Through December 3, 2021 By Joseph P. O’Keefe February 2022 A summary of regulatory decisions of Illinois agencies reported in the Flinn Report that are related to trust and estate practices.
Fraudulent Transfers Versus Disqualifying Transfers Under Medicaid’s Look-Back Rule By John Rodack, Nicole Harrison, & Lawrence Stark November 2022 A discussion of the different types of impermissible transfers that give rise to liability for residents in skilled nursing and long-term care facilities.
Giving Back to Our Colleagues in Need By Bridget C. Duignan September 2022 A look at how the Illinois Bar Foundation's Lawyers Care Fund helps attorneys around the state.
Heads Up on CCA 202142010 By Patrick D. Owens December 2022 The IRS caused some tax professions consternation when they issued Chief Counsel Advice 202142010.
Homestead Rights and Divorce in Illinois By Russell Knight January 2022 An overview of homestead rights, which are rarely invoked in the divorce process but can provide your clients with leverage they never knew they had.
Illinois Notary Law Changes By Kevin J. Stine April 2022 Summaries of the recent substantive changes to existing notary laws.
Illinois Property Tax Code Amendments to the General Homestead Exemption and Homestead Exemptions for Seniors, Veterans, and People With Disabilities Have Been Enacted By Mia O. Hernandez June 2022 An overview of Public Act 102-895, which Governor Pritzker signed into law on May 23, 2022.
IRS Extends Automatic Relief for Late Portability Election By Aaron D. Evans September 2022 Since portability was introduced, many taxpayers have missed the opportunity to elect portability of a deceased spouse's unused exclusion amount.
Legislative Update By Jim Covington June 2022 Public Act 102-1037 was signed into law on May 27, 2022. It starts the process of aligning Illinois law with the maximum federal allowance for a community spouse. 
Letter From the Chair By Patrick D. Owens July 2022 A note of welcome from the chair.
Material Defects By Michael J. Rooney August 2022 Revisions to the Residential Real Property Disclosure Act.
No Guide for the Perplexed By Sherwin D. Abrams March 2022 A look at whether a mortgagee can foreclose if collection of the underlying debt from the debtor’s estate is barred.
No Trust, No Authority, No Transaction? No Problem? By Jeffrey A. Mollet November 2022 A look at the issues considered when an auctioneer brings a fully executed auction contract for a title commitment.
Nuts and Bolts of Preparing and Filing Illinois Estate Tax Returns By Joan E. Smuda December 2022 An overview of how to prepare and file estate tax returns in Illinois.
Part II: Survey Says! Current State of Farm and Ranch Estate and Succession Planning for Attorneys By Cari Rincker January 2022 The second installment in a two-part series of articles discussing farm and ranch estate and succession planning.
‘The Previous Play Is Under Further Review’ By Michael J. Rooney May 2022 An overview of the Illinois Supreme Court Rules of Professional Conduct that govern conflicts of interest.
Public Act 102-0068: New Changes to the Real Property Transfer on Death Instrument Act (755 ILCS 27/1 et seq.)—Part I By Richard F. Bales February 2022 A comprehensive discussion on the recent changes to the Transfer on Death Instrument Act.
Public Act 102-0068: New Changes to the Real Property Transfer on Death Instrument Act (755 ILCS 27/1 et seq.)—Part II By Richard F. Bales March 2022 A comprehensive discussion on the recent changes to the Transfer on Death Instrument Act.