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June 2010 | Volume 3 · Number 6Some content is password-protected for ATG members only. Not an ATG member? Not an ATG member? Apply today! |
| Update from ATG Trust Company The Unappealing Repeal of Repeal  As it stands today, a 2010 decedent with an estate of any value faces no federal estate tax. Then, beginning January 1, 2011, the estate tax rules and rates revert to the 2001 levels, meaning estates over $1,000,000 may be subject to tax. There are also practical matters under the current law that could have serious adverse effects on estate plans due to the type of language used to fund marital and credit shelter trusts. The rates for gift taxes are also in flux and generation-skipping issues abound... read more Robert Lopardo
President ATG Trust Company provides lawyers and their clients with trust, estate, investment, and Section 1031 Exchange services. Contact us for more information: 877.674.7878 or info@atgtrust.com. |
| ATTORNEYS | Practice Notes REAL ESTATE AND TITLE INSURANCE NEWS CHANGES COMING TO
KANE, PEORIA, WILL COUNTY CLOSINGS Illinois Anti-Predatory Lending Database Program Expanding - As reported in our June 15, 2010, ATG Member Special Bulletin (member login required), the Illinois Anti-Predatory Lending Database (APLD) program will go into effect for Kane, Peoria, and Will Counties on July 1, 2010. The intention of the program is to reduce predatory lending practices by requiring certain borrowers to receive counseling before proceeding to closing. After completing the state-mandated counseling, the borrowers can then choose whether to continue with the loan transaction. Cook County has been subject to the Act since 2008. For more information, visit www.ilapld.com or call their customer service number (888-ILL-APLD). | ATG Members: If you conduct closings on property located in these counties must register through ATG with the State of Illinois and take the required training. Click Closing Changes in Kane, Peoria, Will Counties on our home page for details. Login required, click here if you need your username and password. |
CASENOTES Illinois Tax Sales In re Application of the County Collector (Devon Bank v Miller) | The circuit court did not have jurisdiction to enforce a tax deed where the legal owner of record was never notified of the tax sale... read more Indiana Mortgages Welch v Heavelin | Where a lien was secured by a mortgage, foreclosure of that mortgage is barred after the twenty-year statute of limitations for mortgage liens... read more Wisconsin Contracts Vohs v Donovan | In a contract to purchase a home, a contingency that the sale is contingent upon the seller obtaining a new home of their choosing is neither indefinite nor illusory... read more |
| ATG MEMBERS | Underwriters' Bulletin This section for ATG members only provides updated procedural and underwriting information. If you keep hard copies of our Member Handbooks in your office, print this information for insertion.
Login required to view links. Procedural Updates Construction; Mortgages | ATG Requires Co-Exam Approval to Issue — There are four conditions under which members must submit a transaction to the ATG Underwriting Department for approval before issuing... read more Decedents' Estates | ATG Revises Decedents' Estates Underwriting Guidelines — ATG has revised underwriting guidelines with respect to decedents' estates. ATG now requires that the names of the heirs and devisees be searched for judgments and liens, even where an executor, administrator, or other type of personal representative will be signing the deed... read more |
| IN THE NEWS | Free Help Applying for HAMP More Events Scheduled in Chicago Area Attorneys' Title Guaranty Fund (ATG) continues its series of free events to help distressed homeowners.  - Saturday, July 24, Little Village Lawndale High School, Chicago
- Saturday, August 21, Northside College Prep High School, Chicago
- Saturday, October 16, Westinghouse College Prep, Chicago
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Volunteers Needed --- Lawyers and support staff,especially those fluent in Spanish or Polish, please consider helping out and one of these worthwile events: More Information | Volunteer Registration |
| WHAT'S NEW | Member, CLE, Process, and Trust Services  | Re-Activate your ATG Membership - Has it been a while since you issued a policy? Are you ready to get started again? It's easy, and we can help. Make a small investment of time, start writing policies again, and add to your bottom line. Contact Member Services Representative Bob Dillow today!
| | |  | Earn All Your CLE in One Place with One Payment - If you plan to attend three or more CLE programs before the end of June, buy one of our Lawyer Discount Packages — pay for three, the rest are FREE! See ATG Legal Education at www.atgf.com for more information.
| | |  | NEW! Process Service and Skiptracing - Get the finest process service available to lawyers today. Fast, accurate, with nationwide reach and competitive rates. ATG LegaLServe, ATG's newest subsidiary, is fully licensed and insured, and serves papers daily... learn more
| | |  | About Us: An Introduction - You can offer a full range of trust services, including an array of high-quality investment vehicles with proven performance results, many of which are typically available only to very high net worth individuals and institutions. through ATG Trust... read more
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