Energy & Environmental Law Adviser
Product Liability & Mass Torts Blog
Employment Law Landscape
American Bankers Association National Graduate Trust School
Brooklyn Public Library
American Bar Association 2018 Fall Tax Meeting; Section of Taxation; Trust and Estate Law Division of the Section of Real Property, Trust and Estate Law
American Bankers Association
49th Annual Fall Tax Day, Committee of Banking Institutions on Taxation
Chicago Bar Association, Trust Law Committee
Illinois State Bar Association Continuing Legal Education
Wintrust Community Banks
55th Annual Hawaii Tax Institute
Family Office Exchange
Anatomy of Trust, New York State Bar Association Trust & Estate Law Section
38th Annual Kansas City Estate Planning Symposium
Hawaii Estate Planning Council
Chicago Bar Association
Family Office Exchange Rising Gen Forum
2019 Illinois Banker’s Association Bank Counsel Conference
56th Annual Hawaii Tax Institute
2020 Fundamentals Course Series
American Academy of Estate Planning Attorneys
American Bankers Association Wealth Management and Trust Conference
Sterling Trustees LLC
32nd Annual RPTE National CLE Conference
Twenty-five Schiff Hardin attorneys and seven practice areas received leading rankings in the 2016 edition of Chambers USA: America’s Leading Lawyers for Business.
Chambers HNW 2016 is the publisher’s first directory for the private wealth market, recognizing the world’s leading high net worth advisers.
The firm also earned 30 Metropolitan Tier 1 rankings across its Ann Arbor, Chicago, Dallas, New York, San Francisco, and Washington, D.C. offices.
Schiff Hardin is pleased to have been counsel to E&M Ice Cream in a transaction that was recently awarded the “U.S.A. ESOP Deal of the Year” at the 2016 Americas M&A Atlas Awards by Global M&A Network.
Schiff Hardin is pleased to announce that two attorneys were recognized in the 2017 edition of Chambers High Net Worth guide, a leading legal industry ranking.
Schiff Hardin LLP is pleased to announce that Thomas Abendroth, partner and Private Clients, Trusts and Estates Practice Group leader, is the 2017 recipient of the Austin Fleming Distinguished Service Award by the Chicago Estate Planning Council.
Schiff Hardin LLP today announced that Susan T. Bart has joined the firm’s Private Clients, Trusts and Estates Group as a partner in the Chicago office.
Schiff Hardin LLP is proud to announce that Christine R. W. Quigley has been elected a fellow of the American College of Trust and Estate Counsel (ACTEC).
The New York Times
40th Annual Duke University Estate Planning Conference
Schiff Hardin LLP today announced that Michael K. Moyers has joined the firm’s Private Clients, Trusts and Estates Practice Group as a partner in the Chicago office, along with two associates.
Schiff Hardin is pleased to announce that six attorneys were recognized as “Leaders in Their Field” in the 2018 edition of Chambers High Net Worth, a legal industry ranking focused on the private wealth market.
Schiff Hardin announced today that the firm earned top recognition for its marquee practices nationally and in key markets in the 2018 edition of U.S. News – Best Lawyers® “Best Law Firms.”
Schiff Hardin LLP has been singled out by corporate counsel as one of only 28 percent of law firms clients view as a BTI “Innovation Builder,” which recognizes firms that bring change to the legal market through new technology, services, strategies, or structures.
Schiff Hardin LLP is proud to announce that the firm has been named a 2018 “Illinois Powerhouse” by Law360 in recognition of its significant and precedent-setting work over the last year.
Schiff Hardin announced today that the firm has received 40 top-tier rankings and national recognition for its premier practices in the 2019 edition of U.S. News – Best Lawyers® “Best Law Firms.”
Schiff Hardin LLP is pleased to announce that 11 attorneys have been recognized on the 2018 New York Metro Super Lawyers list and two have been named Rising Stars.
Schiff Hardin LLP is pleased to announce that Private Clients, Trusts and Estates Practice Group Leader Thomas Abendroth has been named chair of the Board of Trustees at his alma mater, Ripon College.
New York Law Journal
Schiff Hardin has continued to expand its Private Clients, Trusts and Estates Practice Group with the addition of three attorneys in its New York and Chicago offices. Stephen Liss, a former senior wealth strategist for UBS Financial Services and Barclays, joins as a partner in the firm’s New York office.
Schiff Hardin LLP announced today that the firm has received 45 top-tier rankings and national recognition for its premier practices in the 2020 edition of U.S. News – Best Lawyers® “Best Law Firms.”
Schiff Hardin LLP is pleased to announce that the firm was ranked for its work in Private Wealth in Illinois and nationwide in the 2019 edition of Chambers High Net Worth, a legal industry ranking focused on the private wealth market.
American College of Trust and Estate Counsel
Schiff Elects Three Attorneys to Partnership
Schiff Hardin LLP today announced that Christopher Roman has joined the firm’s Private Clients, Trusts and Estates practice group as counsel in the Chicago office.
Schiff Hardin LLP announced today its launch of a Coronavirus Task Force to address the significant business, legal, and economic challenges facing companies as a result of the coronavirus (COVID-19) pandemic.
Schiff Hardin LLP is pleased to announce that the firm was ranked for its work in Private Wealth in Illinois and nationwide in the 2020 edition of Chambers High Net Worth, a legal industry ranking focused on the private wealth market.
The Law Project
Earlier this month, the Supreme Court declined to hear an appeal challenging Colorado’s use tax notification statute. This decision could inspire other states to impose similar notification requirements on out-of-state vendors.
Donald Trump’s election has raised the question of whether the federal estate tax will be repealed. Our recommendation: Do not stop planning based on the assumption that the estate tax is going away forever, and continue to use trusts because of the long-term wealth preservation benefits they provide.
Proposed regulations released August 2, 2016 would permanently and profoundly change estate planning for families that own a controlling interest in a privately held corporation, partnership, or limited liability company.
Leading Lawyers Magazine
On October 14, 2016, Governor Chris Christie signed new legislation repealing the state’s estate tax for those dying after January 1, 2018. This new legislation provides a significant benefit to many New Jersey estates which could have otherwise owed a substantial amount of state estate tax upon the Decedent’s death.
In this article, we explain what constitutes a qualified appraisal and identify some pitfalls to avoid.
The modern U.S. estate tax regime celebrates its 100th birthday this year. Each estate is taxed on the wealth it transfers to its beneficiaries, as opposed to the beneficiaries being taxed on the shares they receive.
The official inflation adjustments for 2017 will not be released by the Treasury Department until late 2016, but the expected adjustments have been calculated for certain important wealth transfer numbers.
The destruction caused by Hurricanes Harvey, Irma, and Maria and the wildfires in California have led to an outpouring of charitable gifts and donations.
Fiduciaries and family members often face challenges in managing the digital property owned by a person who has passed away or become disabled, especially if there is no plan and authorization for the management of those assets.
The final tax reform bill expected to pass this week not only curtails the deduction for state and local income taxes and property tax, but also eliminates individuals’ ability to claim an itemized deduction by prepaying their 2018 state and local income taxes in 2017.
The President signed into law the Disaster Tax Relief and Airport and Airway Extension Action of 2017 last week, which provides tax incentives for those making charitable contributions to assist in the relief efforts underway in areas affected by Hurricanes Harvey, Irma, and Maria.
Increases to the annual gift tax exclusion, and the U.S. estate tax, gift tax, and generation-skipping transfer tax (GST) exemptions are projected for 2018, providing favorable opportunities for tax-efficient wealth transfers.
The IRS published guidance yesterday that may limit individuals’ ability to deduct prepayments in 2017 of real property tax not assessed until 2018 or later.
Decanting is a technique that permits a trustee to make certain modifications to an irrevocable trust. While a few states permit decanting under the common law, about half of the states have adopted decanting statutes.
U.S. House and Senate Republicans have reached a deal that reconciles the differences between the House and Senate tax reform plans, paving the way for a final vote next week and final passage of tax reform by Christmas.
The U.S. Department of the Treasury plans to withdraw proposed regulations issued in August 2016 that would have narrowed or eliminated taxpayers’ ability to claim valuation discounts on transfers of interests in family-controlled entities.
The Internal Revenue Service announced increases to the annual gift tax exclusion, and the U.S. estate tax, gift tax, and generation-skipping transfer tax (GST) exemptions for 2018, providing favorable opportunities for tax-efficient wealth transfers.
Alexander Hamilton did do a million things, and made his name known. If he was alive today, he likely would be very concerned about his name and its value and use after his death. He would benefit from planning concerning his right of publicity.
If your family includes a person with special needs, here are 10 tips to get you started on the right track to developing an estate plan that works for your family.
Individuals with disabilities and their families have many options to set aside funds without jeopardizing eligibility for means-tested government benefits.
Often grandparents or other family members or friends would like to make additional gifts but have already bumped up against their annual gift tax limits.
The Tax Cuts and Jobs Act (the “Act”) will dramatically change the tax treatment of income from many partnerships, limited liability companies, and S corporations.
The IRS and Treasury Department issued proposed regulations that explain how investors can take advantage of the statute’s unique opportunity for deferral and exclusion of capital gains taxes by investing in designated distressed communities or QOZs.
One year has passed since significant tax law changes were enacted in December 2017. The overall impact of the Tax Cut and Jobs Act of 2017 (TCJA) on estate and tax planning for individuals and their families is close to what we expected — it’s been a mixed bag for taxpayers.
Trusts & Estates
ABA Trust Letter
The U.S. Supreme Court recently decided a case that addresses how a state may tax a particular trust. State courts have been addressing similar questions with increasing frequency.
As the holidays approach and gatherings are planned, you may be considering how and when to carve out time to discuss elements of your family finances while your loved ones are together for a visit.
Tax returns filed in 2019 are the first to fall under the new regulations of the Tax Cuts and Jobs Act. Read more about our coverage on tax reform and its effects on businesses and individuals.
Illinois State Bar Association Trusts and Estates Newsletter
The Internal Revenue Service (IRS) just released one of the all-time low interest rates applicable to certain wealth transfer techniques, including grantor retained annuity trusts (GRATs).
The Setting Every Community Up for Retirement Enhancement (SECURE) Act, which was signed into law in December 2019, introduces a number of new rules and provisions that impact retirement savings in both employer-sponsored and individual retirement plans.
U.S. Treasury Secretary Steven Mnuchin announced today that individual taxpayers can defer federal tax payments of up to $1 million for 90 days.
The IRS released Notice 2020-17 on March 18, 2020, formalizing the relief announced the previous day by U.S. Treasury Secretary Steven Mnuchin, which extended the time to pay certain taxes by 90 days.
Late on Friday, the IRS formalized U.S. Treasury Secretary Steven Mnuchin’s announcement earlier in the day regarding the extension of the tax filing deadline to July 15 by issuing Notice 2020-18, which contains several important clarifications.
The coronavirus pandemic has created a new normal of social distancing and self-isolation. A side effect of this new normal is the inability for clients and advisers to come together in the same room to discuss, plan, and execute on their estate planning objectives.
On December 19, 2019, the U.S. Treasury Department (Treasury) and the Internal Revenue Service (IRS) released the final regulations relating to investment in Qualified Opportunity Zones (QOZ).
In a tweet this morning, U.S. Treasury Secretary Steven Mnuchin announced that the IRS is extending the tax filing deadline from April 15 to July 15.
Trusts are more complicated today with multiple people sharing fiduciary responsibilities and varying state rules for how long a trust can last. We have created the following resources to help you understand the options of modifying irrevocable trusts.
Trusts have become much more complicated over the centuries. They may own a wide variety of assets, including residences, real estate, interests in family business, and interests in increasing complex financial instruments.