Estate Planning

When a young Marine died in Iraq and his parents wanted to retrieve his e-mail as a memorial to him, they came up against the privacy policy of the Internet service provider (ISP), which declined to provide the information. Ultimately, a probate court ordered that the parents be allowed to retrieve the e-mails. When a … Read more

When the owners of a party store received an offer to purchase not the entire property, but only their liquor license and fixtures, they accepted the offer, but on the condition that their attorney approve the deal. Before the attorney’s review of the first offer, the owners received a better offer from another potential buyer, … Read more

Normally, capital gains are recognized and taxable upon the sale of property. The Tax Code provides an exception to this rule for certain exchanges of property. If all requirements are met, any gain from the exchange is not taxed, and any loss cannot be deducted. Gains or losses will not be recognized until the person … Read more

If you have heard of generation-skipping trusts (GSTs) at all, you probably think of them as a way for wealthy families to shield their fortune from estate taxes. That is true as far as it goes, but GSTs can also have benefits for the less well off by protecting assets from ex-spouses and creditors and … Read more

If you inherit property, of course you should be grateful and count your blessings. Still, consider the possibility that the gift may come with a big string attached–a debt linked to the property, such as is particularly common with real estate or a car. In that event, the question arises as to whether the debt … Read more

If you have heard of generation-skipping trusts (GSTs) at all, you probably think of them as a way for wealthy families to shield their fortune from estate taxes. That is true as far as it goes, but GSTs can also have benefits for the less well off by protecting assets from ex-spouses and creditors and … Read more

IMPORTANT NOTICE TO PERSONS DOMICILED IN ILLINOIS CONCERNING ILLINOIS ESTATE TAXES IMPOSED ON ESTATES OF PERSONS WHO DIE IN YEAR 2009: Illinois is “decoupling” from the year 2009 federal estate tax exclusion amount of $3,500,000. This may result in substantial Illinois estate taxes if your estate for tax purposes exceeds $2,000,000. We suggest that you … Read more

“Employer Forced to Pay Unapproved Overtime” reviews a recent case in which the court explained what efforts employers must take to avoid being required to pay employees for unauthorized overtime work. “Like-Kind Exchanges” tax law related to real property “like-kind” exchanges. “Protection for Parodies” discussed distinctions between parodies, trademark infringement and trademark dilution. “Lawyer’s Approval … Read more

“What Happens to Your E-Mail After You Die?” discusses ownership of e-mail information upon the death of an account holder. “Beware of Fake Checks” gives advice to avoid check scams. “Does the ADA Apply to Websites?” suggests that website owners should consider how to accommodate disabled persons. “Watch Your Language, Debt Collectors” discusses debt collection … Read more