For many clients, their retirement savings represent a major portion of their wealth. Given this fact, is especially unfortunate that estate planning with retirement assets can be so fraught with complications. In a post-SECURE Act world, planning with retirement assets has changed; understanding the impacts of SECURE is critical to being able to appropriately advise clients. In addition to unpacking some of the changes and unique planning opportunities presented by the SECURE Act, this presentation is intended to provide foundational background information regarding different types of retirement assets, explaining and demystifying the various important terms and acronyms associated with retirement assets (RMDs, RBDs, EDBs, ghost lives, etc.).

ARDC Annual Report & Data Trends

• Lack of Rural Lawyers
  • Access to Justice
  • Re-regulation
• Virtual Practice
  • ABA guidance
  • Applicable IL Rules of Prof Conduct
• Discipline and Impairments
  • Restorative Approaches
• The Silver Tsunami – Rule 1.14

Regulation in the Age of Social Media

• What’s on the Horizon – ChatGPT & Videoconference Shenanigans
• Actual Misconduct Cases – The Spectrum
• Confidentiality Concerns
• The Importance of Attorney Wellness

Representing clients with diminished capacity poses a number of practical and ethical challenges. In this presentation, we will explore and address the following topics: What is capacity? How do I know what level of capacity is required for a particular type of legal engagement? How do I assess my client’s capacity level? What is different about working with a client who has diminished capacity? Can I take protective action if I think it is necessary? Practical guidance and implement-now resources will be discussed and provided.

Bill will review his experiences during a recent trial where one of the issues addressed was the use or improper use of the office of trust protector under the terms of the trust.  Specifically, two important questions were raised based upon Section 16.3 and Section 16.7 of the Illinois Trusts and Trustees Act, which is the law that applied to the case.  Bill will discuss any changes that may have resulted from the application of the Illinois Trust Code.
 

Under current rules, few clients have taxable estates - but exemption amounts are subject to change. The presentation covers foundation federal tax concepts, including: (1) Federal estate taxation (including explanation of the gross estate, taxable estate, and powers of appointment; and, providing a clear, step-by-step example of estate tax calculations based on a hypothetical scenario); (2) Federal gift taxation (understanding the interplay between estate and gift taxes, understanding basis, and discussing reporting and documentation requirements); (3) Federal generation-skipping transfer taxes (a detailed look at GST taxes, including explanation of generational divisions).