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Legal Articles: Hinshaw & Culbertson LLP

 







Document(s) published by this organization: 45


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HTMLIllinois Stops Civil Conspiracy Claims In Asbestos Litigation
Craig T. Liljestrand; Hinshaw & Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on November 21, 2013
In Gillenwater v. Honeywell International, et al., 2013 WL 5273355 (Ill.App. 4 Dist.) (Sept. 18, 2013), the Illinois Appellate Court for the Fourth District affirmed the Circuit Court of McLean County, granting Defendant's motions for judgment notwithstanding the verdict on the Plaintiff's...

 

HTMLAdditional 3.8% Medicare Tax Imposed on Trust and Estate Income
Hinshaw Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 11, 2013
Beginning in 2013, trusts and estates will be subject to an additional 3.8% Medicare tax on “net investment income” in excess of $11,950. Net investment income includes interest, dividends, rents (unless the trustee is actively participating in a real estate business), royalties,...

 

HTMLEstate Planning Developments in Florida
Hinshaw Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 11, 2013
Because Florida’s estate tax is tied to the federal state death tax credit, Florida’s estate tax will remain dormant for the foreseeable future.

 

Adobe PDFSEC Proposes Crowdfunding Rules Under JOBS Act
Michael D. Morehead, Timothy M. Sullivan; Hinshaw & Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 11, 2013
Congress enacted the JOBS Act in April of 2012. The JOBS Act added Sections 4(a)(6) and 4A to the Securities Act of 1933 (the “1933 Act”). These provisions directed the SEC to adopt rules to exempt crowdfunding offerings from registration under the securities laws. The SEC released its...

 

HTMLNegligent Attorney Not Entitled to Setoff For His Attorney's Fees
Noah D. Fiedler, Terrence P. McAvoy; Hinshaw & Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 4, 2013
In its review of two questions of first impression, the Iowa Supreme Court: 1) accepted the majority view that no setoff is available to a negligent lawyer; and 2) court awarded interest to the legal malpractice plaintiff from the likely date of the judgment in the underlying case.

 

HTMLFinal Due Date for Filing Estate Taxes Triggered Statute of Limitations in Third-Party Complaint for Contribution
Terrence P. McAvoy, Katherine G. Schnake; Hinshaw & Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 12, 2013
Plaintiff, an executor of an estate, filed a legal malpractice action arising out of the defendant lawyer's failure to timely file the estate's tax returns. The defendant lawyer then filed a third-party complaint against various accountants for contribution alleging they failed to timely file the...

 

HTMLMarital Trust Allocation Formulas Should Be Updated Now in Illinois and Minnesota
Hinshaw Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 11, 2013
Because the federal estate tax tax-free amount exceeds the Illinois and Minnesota estate tax exemption amounts, the decoupling of Illinois and Minnesota estate taxes from the federal estate tax has created significant complexities in the estate plans of married couples residing in those states.

 

HTMLSelling to an ESOP May be a Possible Exit Strategy for a Closely-Held Business Owner
Hinshaw Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 11, 2013
Transitioning a closely-held company is not easy. An owner of a closely-held company often wants to convert a portion of his or her shares into cash to reduce investment risk. An owner who is evaluating complete exit strategies should consider selling his or her shares to an ESOP among the possible...

 

HTMLFederal Estate Tax Provisions Became Permanent in 2013
Hinshaw Culbertson LLP;
Legal Alert/Article
December 13, 2013, previously published on December 11, 2013
The American Taxpayer Relief Act of 2012 made the following federal estate tax provisions permanent as of January 1, 2013:

 

HTMLRevised All Appropriate Inquiries Final Rule
Dana B. Mehlman; Hinshaw & Culbertson LLP;
Legal Alert/Article
November 22, 2013, previously published on November 20, 2013
"All Appropriate Inquiries," or AAI, is the process of evaluating a property's environmental conditions and assessing the likelihood of contamination at that property. The current AAI Final Rule provides that the ASTM E1527-05 standard is consistent with the requirements of the final rule...

 


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