IN THIS ISSUE
- Transferring Assets into Estate Planning Vehicles While on the Long-Term Care Journey: More than Meets the Eye
- How to Conduct Due Diligence on an Adaptive Reuse Project
- Three New Laws for Illinois Restaurants
- Single Purpose Entities in Real Estate Transactions
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Transferring Assets into Estate Planning Vehicles While on the Long-Term Care Journey: More than Meets the Eye
By Anthony B. Ferraro
Telephone: 847.698.9600, Ext. 2286
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What can you gain by correctly funding (transferring) assets as part of the estate planning process on the long-term care (LTC) journey?
Creating estate planning documents -- wills, trusts, various beneficiary designation -- can be challenging. However, when it comes to 1) funding (meaning transferring or retitling) assets into estate planning vehicles, or 2) changing beneficiaries for estate planning reasons, new issues arise.
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How to Conduct Due Diligence on
a Reuse Project
By R. Kymn Harp
Telephone: 312.456.0378
Adaptive reuse refers to the process of taking an existing building or structure originally designed for one purpose and adapting it so that it can be used for another. The goal is to breathe new life into old buildings. Adaptive reuse promotes environmental, cultural and economic sustainability, and is an alternative to new construction, particularly in densely developed urban environments. The concept is simple — but the process is a lot more complex.
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Three New Laws for
Illinois Restaurants
By Ariel B. Cutts
Telephone: 312.456.0290
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As restaurants continue to suffer to keep up with the demands of COVID-19, restaurant owners in Illinois should be mindful of new laws now in effect. The new laws address single-use foodware, providing healthy beverages with children's meals, and education requirements about the signs of human trafficking.
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Single Purpose Entities in
Real Estate Transactions
By Robert E. Harig
Telephone: 847.698.9600, Ext. 2288
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A single purpose entity, or SPE, is a limited liability company, S-corporation or other entity formed for the single purpose of owning a specific parcel of commercial real estate. The SPE owns no other assets and is subject to no other liabilities. The real estate it owns serves as collateral for the lender. Often, the SPE contracts with an affiliated company to be the manager of the property and to handle matters such as tenant leases and day-to-day business operations of the property. |
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ABFJournal Podcast Series Connects with RD
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Riccardo A. DiMonte, President
Andrew M. Sachs, CEO
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CEO Andrew M. Sachs and President Riccardo A. DiMonte participated in the ABF Journal Podcast Series on February 4. Andrew and Riccardo discussed the entire merger process of Chicago law firms Robbins, Salomon & Patt and DiMonte & Lizak to form Robbins DiMonte. They also discussed what the combined company expects to achieve in the years to come.
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Andrés J. Gallegos
Telephone: 312.456.0381
Andrés J. Gallegos was a guest lecturer on March 14 at the University of Illinois Chicago Disability Law class. He presented on the application of the federal nondiscrimination laws to healthcare systems and providers. Also, on March 15, he was a guest lecturer at the law school's Bioethics & the Law class discussing the history of struggle to achieve health equity for people with disabilities.
On February 1, Andrés was elected to the Board of the American Association on Health and Disability, a cross-disability national non-profit organization dedicated to ensuring health equity for children and adults with disabilities through policy, research, education and dissemination.
Additionally, Andrés has accepted an invitation to deliver the commencement address at the May 21 Commencement for Saint Louis University. He also will receive an honorary doctorate degree from the University on May 20.
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Rita W. Garry
Telephone: 312.456.0285
Rita A. Garry was a co-presenter for the IFA Webinar “The Realities of Protecting your Business from Cybercrime” on March 23. Rita discussed practical tips and tools to guard against cyber crime and data breaches. Click here to access the presentation. The passcode to access the presentation is @DdD^B$8.
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Laurie A. Martin Montplaisir
Telephone: 312.456.0292
Laurie A. Martin Montplaisir will be a co-presenter on the topic "Lender Liability for the Secured Finance Network Independent Finance Roundtable 2022 on April 7.
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Cornelius "Con" F. Riordan
Telephone: 312.456.0767
Cornelius F. Riordan authored "Who Should Shoulder the Cost of Construction Delays" published by GlobeSt.com.
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Anastas Shkurti
Telephone: 847.698.9600, Ext.2290
Anastas Shkurti authored "Owners as Additional Insured in Construction Contracts" published by the Advise & Consult, Defects & Disputes Newsletter. Click here to read the full article.
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Julia Jensen Smolka
Telephone: 847.698.9600, Ext. 2231
Julia Jensen Smolka was sworn in as an officer of the Advocates Society. The Advocates Society is an association of Polish-American attorneys. The Advocates pride themselves in promoting the progress of law, upholding the Constitution, and fostering relationships among other attorneys in the Chicagoland area. It also runs, in conjunction with the Chicago Volunteer Legal Clinic, a robust legal aid clinic called Amicus Poloniae catering to polish speaking clients.
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Richard Lee Stavins
Telephone: 312.456.0371
Richard Lee Stavins authored "Interlocutory Appeals in Probate Estates," published in the February 2022 issue of the Chicago Bar Record, a law review publication of the Chicago Bar Association. He also serves on the Editorial Board of the Association. Click here to read the full article.
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Robert McKenna Winter
Telephone: 312.456.0374
Robert McKenna Winter participated in a February 2022 course on coral restoration with Islamorada Conservation and Restoration Education, a nonprofit organization that works to preserve and restore coral reefs.
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Riccardo A. DiMonte
Telephone: 847.698.9600, Ext. 2218
Taylor H. Wachal
Telephone: 847.698.9600, Ext. 2220
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On January 19, Riccardo A. DiMonte and Taylor H. Wachal successfully persuaded the Illinois Supreme Court to enter a litigation stay against the Circuit Court of Cook County in a case where the trial judge continued exercising jurisdiction over a case and the parties after having lost jurisdiction months beforehand. On behalf of RD’s client, Riccardo and Taylor filed a petition for writ of prohibition in the Illinois Supreme Court against the trial judge along with a request for a stay to prohibit the Circuit Court of Cook County from exercising jurisdiction over the case until the Illinois Supreme Court ruled on the merits. The Illinois Supreme Court sent a final disposition against the Circuit Court of Cook County to vacate its orders concerning post-judgment motions and directing the Circuit Court to deny defendant’s motion for leave to file post-judgment motions due to the lack of jurisdiction. The Illinois Supreme Court acted swiftly in its review of the petition filed on January 7, entering a stay against the Circuit Court on January 19, and thereafter entering a final disposition in our favor on January 26.
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RD CHICAGO
Telephone: 312.782.9000
Fax: 312.782.6690
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RD PARK RIDGE
Telephone: 847.698.9600
Fax: 847.698.9623/9624
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Publication of this legal newsletter by Robbins DiMonte, Ltd. is not intended as a solicitation of legal representation, but rather educational purposes only as well as to give you general information and a general understanding of the law. It is written entirely by members of the firm. We welcome any comments or questions about topics covered in this or any issue. This newsletter is not intended as a replacement for individual legal advice. The contents of this publication may be quoted or reproduced if credit is properly given to the source.
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