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  • November 2, 2021 News
    SIGNIFICANT PROPOSED TAX LAW CHANGES IN LIGHT OF THE "BUILD BACK BETTER ACT"
    Trust, Estate & Taxation
    Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald, Jeffrey C. Rambach, Leynee Cruz Flores

    By now, we are sure that you are aware of the considerable discussion in the media about Congress wanting to in large part revise a number of favorable tax laws. Congress has recently taken steps to make changes a reality through a new and pressing series of proposed tax law changes with the “Build Back Better Act” (the “Act”) that is making its way through the legislative process in Washington, D.C. New tax laws might be enacted, if at all, as early as mid-November but possibly by late December.

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  • September 30, 2021 News
    SIGNIFICANT 2021 ILLINOIS TAX LEGISLATION
    Trust, Estate & Taxation
    Jonathan D. Morton, Barry P. Siegal, Jeffrey C. Rambach

    The following is a summary of some of the more significant changes in Illinois law on state taxation enacted by the Illinois Legislature in its 2021 session.

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  • April 17, 2020 News Coronavirus Alerts
    PAYROLL PROTECTION PROGRAM - UPDATE (COVID-19 ALERT)
    Employment Law
    Nancy Franks-Straus, Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald

    As of Thursday, April 16, 2020, the nearly $350 billion allocated to fund the Payroll Protection Program (“PPP”, previously discussed in detail here) had been entirely committed. According to the American Bar Association, the Small Business Administration is no longer taking applications, and will not allow new applications to be placed in a queue.

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  • April 10, 2020 News Coronavirus Alerts
    ESTATE PLANNING CONSIDERATIONS - COVID-19 ALERT
    Nancy Franks-Straus, Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald

    While we are following Governor Pritzker’s order to stay at home, our firm is still working. Because we have received many questions in the last few weeks, we want to reach out to you to provide a few reminders and tips.

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  • March 31, 2020 News Coronavirus Alerts
    CARES ACT RELIEF - COVID-19 ALERT
    Nancy Franks-Straus, Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald

    On March 27, 2020, President Donald Trump signed the Coronavirus Aid Relief and Economic Security Act (“CARES Act”) into law. The law includes significant aid for small businesses and individuals affected by the novel coronavirus and the surrounding economic consequences.

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  • March 27, 2020 News Coronavirus Alerts
    IL VIRTUAL WITNESS REQUIREMENTS - COVID-19 ALERT
    Nancy Franks-Straus, Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald

    On March 26, 2020, Illinois Governor Pritzker issued Executive Order 2020-14. In response to the risk of in-person contact necessary in the notarization and witnessing of documents, the Executive Order allows notaries and witnesses to carry out their respective duties through video-conferencing.

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  • March 25, 2020 News Coronavirus Alerts
    IRS AND IL TAX FILING & PAYMENT RELIEF - COVID-19 ALERT
    Nancy Franks-Straus, Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald

    In Notice 2020-18, the Internal Revenue Service announced Federal income tax return filing and payment relief by moving the due date for filing certain returns and paying the related taxes from April 15 to July 15. The Service has released an FAQ that offers guidance as to which tax returns (and their related payments) are eligible for this relief, which may be accessed here.

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  • March 18, 2020 News Coronavirus Alerts
    COVID-19 IRS UPDATE
    Nancy Franks-Straus, Jonathan D. Morton, Barry P. Siegal, Katherine M. Oswald

    On Tuesday, March 17, 2020, Secretary of the Treasury, Steve Mnuchin, speaking at a coronavirus news conference, announced that the government will be deferring required 2019 income tax payments for 90 days, penalty-free.

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  • January 6, 2020 News
    CHICAGO LAWYER MAGAZINE RECOGNIZES GOLAN CHRISTIE TAGLIA PARTNERS FOR EXCELLENCE
    Trust, Estate & Taxation
    Anthony R. Taglia, Nancy Franks-Straus, Barry P. Siegal, Andrew S. Williams

    Golan Christie Taglia is proud to announce seven firm partners were recognized in the December 2019 issue of Chicago Lawyer Magazine.

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  • January 6, 2016 Presentations
    ABC'S OF ESTATE PLANNING
    Trust, Estate & Taxation

    What is estate planning all about? It is a process by which a person creates a structure for the management and distribution of wealth during lifetime and after death in the manner which carries out his/her wishes.

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  • September 1, 2014 News
    NEW ILLINOIS CAREGIVER LAW
    Trust, Estate & Taxation
    Barry P. Siegal

    There is a noticeable increase in news reports about individuals who take advantage of elderly persons with whom they have a trusted relationship. In many cases, these individuals are caregivers who have developed a close, almost familial relationship. The situation can be complicated if the elderly person has a diminished ability to understand the motivation of the trusted individual.

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  • June 1, 2013 News
    THE FUTURE OF SAME-SEX MARRIAGES
    Nancy Franks-Straus, Barry P. Siegal

    The United States Supreme Court recently handed down two landmark decisions relating to the treatment under the law of same-sex couples.

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  • March 1, 2013 News
    ESTATE PLANNING ACROSS STATE LINES
    Trust, Estate & Taxation
    Barry P. Siegal

    Estate planning professionals are finding that clients are becoming increasingly connected with two or more states, either by maintaining residences or investment property in multiple jurisdictions.

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  • March 1, 2012 News
    WHY YOU CAN’T JUST PUT IT IN A DRAWER AND FORGET IT
    Barry P. Siegal

    Over 50% of the population does not have any estate plan. Not a will. Not a trust. Nothing. Further, of those people that have done some planning, what they have is in many cases out of date or has not been fully implemented.

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  • June 1, 2011 News
    APPELLATE DECISION SUPPORTS CREDITOR PROTECTION FOR IRA’S
    Barry P. Siegal

    A qualified employee benefit plan (e.g. Pension, Profit Sharing, 401(K) and 403(b) plans), protects the value of an employee’s account because it is exempt from the claims of creditors, including a trustee in bankruptcy. This benefit has also been extended to Individual Retirement Accounts (IRAs), although in bankruptcy, the exemption is limited to $1,000,000. Creditor protection applies to IRAs which hold funds that were “rolled over” from a qualified Pension, Profit Sharing, 401(K) or 403(b) plan. Finally, an IRA in which a spouse is named as a beneficiary is creditor protected since the spouse has the right to roll over the funds into his or her own IRA.

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  • January 1, 2011 News
    NEW ILLINOIS CIVIL UNION LAW IMPACTS ESTATE PLANNING CONSIDERATIONS
    Barry P. Siegal

    Illinois has recently joined a growing number of states which allow same-sex couples (and opposite-sex couples who have elected not to become married), to have the same rights and obligations as couples who are married, by entering into a Civil Union.

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  • October 28, 2010 Presentations
    WHAT YOU NEED TO KNOW ABOUT ESTATE PLANNING FOR THE NON-TRADITIONAL FAMILY
    Trust, Estate & Taxation

    Historically, most estate plans revolved around the nuclear family structure of husband and wife who were married for the first time and children that were born of that marriage. Over the course of the last 20 plus years, divorce rates have increased, more opposite-sex couples are opting to live together without getting married and there is a greater awareness of same sex couples who are committed to each other. In these situations, the traditional approach of estate planning is not always appropriate.

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