http://www.deathandtaxesblog.com/ Published by Joel A. Schoenmeyer en-us 2010-02-01T09:14:40-06:00 http://www.deathandtaxesblog.com/2010/02/a_little_advice_for_young_atto.html I was recently asked by a 3rd year law student for some advice on how to succeed upon graduation. Basically, what I told her can be summed up in three words: "find your niche." I realize that this isn't a... Practice Points deathandtaxesblog-1 2010-02-01T09:14:40-06:00 http://www.deathandtaxesblog.com/2010/01/property_schedules_in_trusts.html Here's a question I get a fair amount: "Should we list all of our property on a schedule attached to our living trusts?" I see trusts (usually older ones) with schedules attached, but my answer is typically "no." Property changes... Wills and Trusts deathandtaxesblog-1 2010-01-27T10:53:55-06:00 http://www.deathandtaxesblog.com/2010/01/movement_in_the_cook_county_pr.html Attention Cook County probate practitioners: Judge James W. Kennedy of the Cook County Probate Court has retired, effective as of last Friday the 22nd of January. To replace him, Judge Mary Ellen Coghlan has moved over into deceased estates from... Probate - Illinois Law deathandtaxesblog-1 2010-01-26T14:39:54-06:00 http://www.deathandtaxesblog.com/2010/01/the_ethicist_on_switching_guar.html "The Ethicist" column in today's New York Times magazine addresses the issue of whether to tell your friends that you are removing them as guardians of your children under your Will. The column is here. I'm not an ethicist (insert... Guardianships deathandtaxesblog-1 2010-01-24T13:25:04-06:00 http://www.deathandtaxesblog.com/2010/01/trustadministration_agreements_1.html Setting up a trust can be a pretty effective way of avoiding expensive and public court proceedings (which are necessary in a probate situation). But sometimes problems arise with a trust, problems where a court proceeding may be needed. Settlements... Wills and Trusts deathandtaxesblog-1 2010-01-19T13:48:55-06:00 http://www.deathandtaxesblog.com/2010/01/5_things_you_need_to_know_abou_3.html So where do we go from here? It's hard to know. If we're going to think in terms of what might happen, then we have to consider the following three possibilities: #1: No action by Congress (no federal estate tax... Estate Tax deathandtaxesblog-1 2010-01-13T09:37:44-06:00 http://www.deathandtaxesblog.com/2010/01/5_things_you_need_to_know_abou_5.html Short post today, both because I've covered this issue fairly recently and because I'm dealing with a burst pipe in my basement. The fact that there is currently no federal estate tax does NOT mean there are no estate taxes... Estate Tax deathandtaxesblog-1 2010-01-12T08:23:08-06:00 http://www.deathandtaxesblog.com/2010/01/5_things_you_need_to_know_abou_4.html An effective estate plan should be flexible enough to accommodate changes in circumstances -- maybe not every change, but many of them. For instance, instead of specifically referencing the estate tax exemption amount when drafted, most well-drafted documents contain a... Estate Tax deathandtaxesblog-1 2010-01-11T11:20:56-06:00 http://www.deathandtaxesblog.com/2010/01/5_things_you_need_to_know_abou_2.html Perhaps I am getting ahead of myself -- I have been assuming that we will not have a federal estate tax for 2010. It's possible that Congress might get its act together and actually pass an estate tax bill in... Estate Tax deathandtaxesblog-1 2010-01-08T19:26:22-06:00 http://www.deathandtaxesblog.com/2010/01/5_things_you_need_to_know_abou_1.html Up through 2009 (and starting again in 2011, assuming the law isn't changed), there was a federal estate tax. That was and will be the bad part, at least for people who owed or will owe tax. The good part... Estate Tax deathandtaxesblog-1 2010-01-07T16:29:25-06:00