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Taxation & Estate Planning

Death and Taxes Blog

Commentary on estate planning, estate administration, and real estate issues from a Chicago-area attorney.
By Joel A. Schoenmeyer

Post Frequency: 2/day

Last Entry: May 07, 2013 at 12:00:50

Citations in Probate: Discharging and Amending

Posted on July 07, 2009
I've talked previously about citations in the probate context (here is an introduction). These actions are usually brought by the personal representative, to find out about (and, if successful, re-acquire) property held by a third party that rightfully belongs to the estate...

Michael Jackson's Estate, Part 4: Butterflies

Posted on July 06, 2009
Today there was a court hearing in Michael Jackson's estate. Some details, from MSNBC: 1. There's a 1997 Will as well as a 2002 Will. The 1997 Will only comes into play if the 2002 Will is found to be invalid. 2. Given the temporary nature of the appointments of John Branca and John McClain, as well as the fact that they are referred to as "administrators," I have to believe that we are talking about a scenario involving what are known (in Illinois, at least) as "administrators to collect...

Debbie Rowe, Michael Jackson, and Custody: Scream

Posted on July 04, 2009
Why would Debbie Rowe seek to become guardian of her two children with Michael Jackson? (Article here) Three words: follow the money. Mr. Jackson's trust is (in part) for the benefit of his children. I would presume that he wanted them to be supported in the lifestyle to which they've become accustomed...

Michael Jackson's Estate, Part 3: Beat It

Posted on July 03, 2009
I posted a link to Mr. Jackson's Will yesterday. A few thoughts: -This is what's known as a pourover Will. Mr. Jackson has a trust called the Michael Jackson Family Trust (the "Trust"), and any assets owned by him in his own name at death pass to (pour over into) the Trust...

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The $8,000 Income Tax Credit for First-Time Home Buyers: Primary Sources

Posted on July 02, 2009
Hey, I like the internet as much as anyone (really!). But one problem I have is that there are very few places to turn in order to really understand an issue. A lot of the problem is reliance upon secondary sources. So, when my client asks, "can I take advantage of this new $8,000 credit for first-time homebuyers," I run across 100,000 websites providing a vague summary of the law...

Michael Jackson's Will -- the PDF

Posted on July 01, 2009
It's here. Analysis to come.

Michael Jackson's Estate, Part 2: Wanna Be Starting Something?

Posted on June 30, 2009
This blog may morph (just like the "Black or White" video!) into the Michael Jackson's Estate Blog in the coming months (or years). The latest: there appears to be a 2002 Will, according to this WSJ article. Usually a Will starts out by stating that the person signing it hereby revokes all prior Wills, so the last valid Will is the one that is used in probate...

Thomas Jefferson: Rogue Executor?

Posted on June 29, 2009
I'm currently reading James W. Loewen's Lies Across America: What Our Historic Sites Get Wrong. It's a follow-up to Mr. Loewen's book Lies My Teacher Told Me: Everything Your American History Textbook Got Wrong. I recommend both books. One section touches on Thomas Jefferson and his quotes featured on the Jefferson Memorial...

Contingent Fees in the Probate/Estate Context

Posted on June 28, 2009
The Wills, Trusts & Estates Prof Blog has this post about a case involving contingent fee arrangement in an estate. 40% of $100 million. Wow. The court couldn't decide, without additional facts, whether the 40% fee was unconscionable? Gosh -- I don't know how many additional facts you'd need...

Thoughts on Michael Jackson's Estate

Posted on June 27, 2009
For many people from my generation (I was 12 when the album Thriller was released), the death of Michael Jackson is a pretty big deal. My family has always listened to a lot of his music, from the Jackson 5 days through his solo career. (Five favorites: "I Want You Back," "Don't Stop 'Til You Get Enough," "Scream," "PYT," and "Human Nature...

Five Wishes: A Rebuttal

Posted on June 17, 2009
Recently I posted (here) a summary of a recent Illinois Bar Journal article about potential problems with the Five Wishes directive. I almost immediately received an e-mail from someone affiliated with Five Wishes, saying "stay tuned for a rebuttal." The rebuttal has now been published in the Illinois Bar Journal -- I'm publishing it here as well (with permission): May 18, 2009 Dear Editor: We?re flattered that authors Koenig and Hyde (?Be Careful What You Wish For: Analyzing the Five Wishes Advance Directive,? IBJ May 2009) pored over our document, and as would a law student studying a model contract, found areas that might-could-maybe-potentially become a problem...

Advanced Estate Planning (Estate Planning 102)

Posted on June 16, 2009
I usually think of estate planning as either basic or advanced (Estate Planning 101 and 102, as it were), and I spend most of my practice (and this blog) talking about the basics of estate planning. However, Estate Planning 102 is important as well. Most advanced estate planning is done for tax purposes -- you have to navigate income tax, gift tax, and estate tax issues...

More on George Allen Smith IV Cruise Ship Death

Posted on June 11, 2009
I previously blogged about George Allen Smith IV's mysterious death and the probate proceedings surrounding it here and here. The case is still in the news (here). Basically we're talking about a battle between the deceased honeymooner's wife and his parents...

Handling Your First Illinois Probate Estate - CLE Video Presentation

Posted on June 09, 2009
A couple of weeks ago I recorded an hour-long video presentation on "Handling Your First Illinois Probate Estate" for the mentorcle website. This site has a great business model: anyone can watch a video for free -- attorneys only pay if they want CLE credit for watching...

Judge Sotomayor on Estates

Posted on June 04, 2009
Professor Beyer has this post about Judge Sotomayor's decisions in a few cases affecting trusts and estates. One case in particular is of interest to me, as it relates to a discussion I had with David Giacalone (detailed here) a few years ago about whether personal representatives should be able to handle a probate without hiring an attorney (that is, pro se)...

Filing a Claim in Cook County, Illinois

Posted on June 02, 2009
1. Bring the following to Room 1201 of the Daley Center (50 West Washington Street, Chicago): a. Your checkbook b. Original claim form, completed and signed by your client (note that claim form should include both pages of this form) c. Two (or more) copies of the original claim form 2...

Natasha Richardson's Will

Posted on May 31, 2009
The New York Post has the details, here.

Unclaimed Property and Probate Estates

Posted on May 26, 2009
This is an interesting article about how the bad economy has made people more aggressive in pursuing unclaimed property. In most states, unclaimed property is accessed via the state's treasurer -- that's the case in Illinois as well (go here for the state's site)...

Terry M. Shoultes Probate Litigation -- The Velvet Touch of Probate

Posted on May 19, 2009
The Velvet Touch is a Michigan chain of adult bookstores/massage parlors/etc. The owner and founder, Terry M. Shoultes, passed away in 1998, but the battle over his estate is still continuing. Here is the full story.

Nina Wang Probate Dispute

Posted on May 13, 2009
Isn't it funny how some people seem to be magnets for probate disputes? Anna Nicole Smith had a dispute during her life (over her husband's estate), and now there's a dispute following her death. The same is true of Nina "Little Sweetie" Wang. I blogged here about the controversy surrounding her husband's death...

Mediation Services in Probate

Posted on May 12, 2009
In addition to representing parties in probate and probate litigation proceedings, I also am a mediator. I offer mediation services at my regular hourly rate ($275, payable equally by the parties), as a (hopefully) quicker, less expensive alternative to full-fledged litigation...

Powers of Attorney vs. The Five Wishes Advance Directive

Posted on May 11, 2009
We all crave simplicity, don't we? I know I do, and I know I sometimes get frustrated when things seem complicated just for the sake of being complicated. But I also recognize that, sometimes, things are complicated because that's the way life is. The Five Wishes advance directive is an attempt to simplify matters, by allowing a person to dictate "how you want to be treated if you get seriously ill and unable to speak for yourself...

Twitter and Facebook

Posted on May 08, 2009
I've taken the leap to Twitter, even though I'm fairly suspicious about such things. You can find me here, if you're interested (and believe you me, I'll understand if you aren't). I occasionally tweet about estate planning and probate, although it's difficult to say anything of substance in 140 characters, and my mind wanders to topics such as family, film, architecture, the piano, genealogy, and baseball (to name a few)...

Chang v. Lederman: Estate Planning Malpractice Case

Posted on May 07, 2009
Here is an interesting summary of a California legal malpractice case, Chang v. Lederman. The case involved an attorney named Gregory Lederman, his client Raphael Schumert, and Mr. Schumert's girlfriend (later wife), Myung Chang. Chang alleges in her complaint that in February, 2005, Schumert instructed Gregory Lederman, as his attorney, to revise the trust to provide for distribution of the entire estate to Chang, with the exception of $250,000 to be distributed to his son...

Creditors and Trusts -- Society of Lloyd's

Posted on May 06, 2009
During a recent discussion on a ISBA (Illinois State Bar Association) listserv, the case of Society of Lloyd's v. Estate of McMurray case (available here) was brought to my attention. Given my interest in claims against non-probate property, it seems worthwhile to discuss it...

Ethics and Estate/Probate Attorneys

Posted on May 05, 2009
Last week I wrote (here) about the question of "who's the client?" in the estate planning context. As one reader pointed out to me in an e-mail, this issue also arises in the estate administration or probate context. Let's say that you are approached by an individual who is named as Executor in the Will of John Smith...

Cook County Probate -- New Order re. "Expedited" Service

Posted on May 04, 2009
I've complained before about the huge backup in the Cook County Probate Court for deceased estates. This isn't the fault of the judges, who are working as quickly as they can; rather, it's a problem that has arisen because we have only four judges handling all of the deceased estates (new and old) in Cook County...

Estate Planning and Ethics: Who's The Client?

Posted on May 01, 2009
I was at a seminar today on ethical considerations in estate planning. One of the things I noticed was how often an ethical dilemma starts because the attorney doesn't know (or doesn't keep in mind) the identity of the client. Some examples: 1. Joint representation (husband and wife): In most cases, they are BOTH the client, even if one of them is your primary contact...

More on Ethics and Estate Planning

Posted on May 01, 2009
One of the cases mentioned at the ethics seminar I attended yesterday involves an Illinois attorney named Karris A. Bilal. Mr. Bilal was facing disciplinary action for a number of reasons. One of the reasons involved his actions with respect to his father's wife, Rachell, and Rachel's aunt, Georgia Hodges...

Mrs. Astor Regrets

Posted on April 29, 2009
I just finished reading Meryl Gordon's book Mrs. Astor Regrets, and highly recommend it. The story should be interesting to anyone who likes a lurid tale that's well-told, but it has special interest to those interested in estate planning and related fields...

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