Alerts and Bulletins

U.S. Tax Reporting Obligations for Foreign Assets

Reporting requirements for U.S. taxpayers with foreign financial accounts (Form 8938 and FBARs) are being enforced more strictly than ever. The deadline for filing an extension of Form 8938, for those taxpayers who are eligible, is June 16, 2014. The deadline for filing an FBAR for 2013 is June 30, 2014. Read more...

Foreign Account Holders – Beware: Does your Agent Have Signature Authority?

Your Agent under your durable Power of Attorney for Property may be liable for filing a Foreign Bank and Financial Accounts Report (“FBAR”) for your foreign accounts and penalties for not filing. Read more...

The French Connection

A new French law requires extensive disclosure regarding trusts if they have a French connection. Read more...

Asset Protection: Act Before There is a Potential Creditor

Asset protection planning is a legitimate and useful exercise, and highly effective if completed before there is a threat of litigation, but must be planned and implemented early to avoid claims of a creditor. Planning implemented too late will not only fail to avoid a creditor’s claim, but will likely be more costly than having done no planning with respect to that creditor. Read more...

Maryland and New York See the Light on State Estate Taxes

This Spring, both New York and Maryland approved progressive increases in the threshold at which decedents must file and pay state estate taxes. Read more...

U.S. Supreme Court Rules Inherited IRAs Subject to Creditors’ Claims

On June 12, 2014, the U.S. Supreme Court unanimously ruled that inherited Individual Retirement Accounts are not shielded from creditors in federal bankruptcy proceedings. Read more...

Handler Thayer in the News

Handler Thayer, LLP was named the Best Private Client Law Firm in the U.S. for 2014 by Private Asset Management Magazine.

Handler Thayer, LLP was chosen for the second consecutive year as the Large Tier winner of the Corporate Int'l Magazine 2014 Global Award: Estate Law - Law Firm of the Year in Illinois.

Handler Thayer, LLP was named ACQ5 Global Awards 2014 winner of the Large Tier- Estate Law Firm of the Year in Illinois by ACQ (Acquisition Finance) Magazine.

Handler Thayer, LLP was named the 2014 Gold Winner for Best Law Firm in the Regional Private client category resulting from an independent survey conducted by the IAIR Global Economy & Sustainability Magazine.

Handler Thayer, LLP was short-listed by Family Wealth Report for The 2014 Most Effective Private Client Legal Team in North America award. Only three other law firms were short-listed for Family Wealth Report’s only law firm category.

At the Family Wealth Alliance Chicago Regional Event on June 26, 2014 Tom Handler will serve as Conference Chairman and conduct a panel presentation covering updates on Advanced Planning for UHNW families and family offices.

Tom Handler will serve as Conference Chairman of the Family Wealth Alliance Fall Forum to be held in Philadelphia, Pennsylvania October 21 and 22, 2014.

Based on independent peer reviews, Leading Lawyers again named Handler Thayer attorneys among the Top Lawyers for 2014: David Berek, Jarrett Bostwick, Mary Cascino, Tom Handler, Steve Thayer and Mike Whitty.

Mary Cascino and Michael Whitty have been named to the 2014 Super Lawyer List for "Best Estate Plan and Probate Lawyers in Illinois" by Super Lawyers Magazine.

Trusts & Estates Magazine published Tom Handler's article in its Special Report on Family Businesses, "Establishing Virtual Family Offices" in March (2014).

Speaking Engagements

Dave Berek will be participating in Inheriting Wisdom's FFI Midwest Chapter Event, speaking on the topic, "To Reveal or Conceal?: The Transparency Myth in Families of Wealth and Family Businesses,"  on June 19, 2014 in Chicago, Illinois.

Tom Handler will be a panelist on the topic, "Structuring your Family Office for Success: What Every Family Should Know Regarding Government Taxation and Regulation and The New Rules for 2014 and Beyond," at the Family Office and Private Wealth Management Forum sponsored by Opal Financial Group, in Newport, Rhode Island from July 21-23, 2014.

Tom Handler will conduct sessions on Advanced Business & Estate Planning at Northwestern Mutual’s educational conferences in Atlanta, Georgia on September 9, 3014 and in Chicago, Illinois on October 7, 2014