We are in full “Summit Mode” here at the Academy getting ready for our 2023 Spring Summit. Member Attorneys and their teams from all over the country will converge in the Windy City next week at the Westin Chicago River North to learn, connect, and celebrate the Academy’s 30th anniversary. Chicago, a city steeped in […]

Each year the Internal Revenue Service (“IRS”) publishes its “Dirty Dozen” list of the most notorious tax scams from the year. The list alerts taxpayers and professionals alike of the most commonly used tax cons during the last year. The scams run the gamut from promoting taking incorrect credits to produce large refunds to misusing […]

Our Spring Summit is just around the corner! Not only is it a time to relax and enjoy your time out of the office, but it is also a great opportunity to share and hear about others’ successes and generate ideas for your own firm. As fun and motivational as our programs are, most of […]

When most folks think about Estate Planning, they focus on who gets what along with who distributes what. In some cases, clients consider their taxes, but that often occurs only when their estate will exceed the Applicable Exclusion Amount (currently $12.92 million in 2023). Comprehensive Estate Planning focuses on the foregoing but encompasses much more. […]

Next to your own law firm website, your Google Business Profile is the most important piece of real estate on the internet for your firm. A Google Business Profile is a free tool provided by Google that allows businesses to manage their online presence across Google, including search and maps. These profiles provide a wealth […]

When most folks think about Estate Planning, they focus on who gets what along with who distributes what. In cases in which an individual’s estate is not expected to exceed the Applicable Exclusion Amount, currently $12.92 million, taxes may simply be an afterthought. Comprehensive Estate Planning, though, encompasses much more than the foregoing. This is […]

In an effort to make things easier for their loved ones, people sometimes enter into prepaid funeral contracts. The idea is that you pay for all of your own funeral and burial or cremation expenses in advance. When you pass away, your family notifies the service and the service handles everything. When you enter into […]

The Biden Administration recently released its budget proposals for 2024. Of the fourteen proposals listed, two could impact Trust and Estate practitioners, if signed into law. This article will focus on the first such proposal which relates to distributions from an Individual Retirement Account (“IRA”). The Internal Revenue Code (“Code”) allows taxpayers under the age […]

When parents tell their adult children, “It’s all taken care of,” regarding their end-of-life arrangements, what do they mean? Assuming they’ve worked with an estate planning attorney, they should have a will, a trust, and advance medical directives in place, with health care and financial power of attorney designees and back-up designees. These elements, while […]

I remember the shock I felt in 2008 when I learned that my bank, Washington Mutual, collapsed after a 9-day bank run. Thankfully, J.P. Morgan Chase bought the banking subsidiaries and most depositors continued with the new bank as though nothing had happened. Fifteen years later, not one, but three, banks have failed in one […]