February 2011 | Volume 4 • Number 1
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Update from ATG Administration
Electronic Fraud Increasingly Targets Lawyers' Escrow Accounts
A Dangerous Threat to You and Your Clients
Internet fraud schemes are increasingly targeting lawyers and the banks where lawyers have their client trust accounts. We know of at least two recent cases of Illinois attorney-title agents who have suffered serious losses through Internet banking scams.
ARDC E-mail Scam Notice

We are now passing along a notice from the Attorney Registration and Disciplinary Commission (ARDC), E-Mail Scams and Lawyer Trust Accounts, outlining a variation of the scam for title insurance companies and agents.

We cannot understate the importance of educating yourself and your staff, fine-tuning your internal security, and protecting your practice and your clients' funds from these schemes. If you weren't able to attend Ron Trubiana's presentations at our 2010 Harold I. Levine Real Estate Institute in Chicago last November or via Connect in early December, ATG Legal Education offers an OnDemand program on how to protect your practice... read more

We encourage you not to miss this opportunity — Earn 1.50 credits without leaving your office and at your convenience. We have also published articles on this important topic (see October and November 2010 issues of the Trusted Adviser).

Jerry T. Gorman
ATG Senior Vice President



ATTORNEYS | Practice Notes
January 2011 Outlooks — The U.S. economy appears to have exited 2010 in relatively good shape, especially compared to its condition at the beginning of the year... read more
First Quarter Perspectives — As we look back at 2010, one of the trends that developed early in the year and continued throughout was the return of dividends... read more
Real Estate Taxes; Title Insurance
Rhone v First American Title Ins Co — The possibility of a real tax reassessment does not qualify as a lien or encumbrance under a standard title insurance policy... read more
Title Insurance
Fidelity Nat Title Ins Co v Mussman — The fact that a title underwriter had authority to audit an agent's escrow account did not translate into vicarious liability for the agent's closings... read more
Foreclosure; Mortgages
First Bank of Highland Park v Summerhaven, LLC — Mortgagees who agree to hold a second mortgage in writing with both the buyer and the holder of the first mortgage cannot have statutory priority... read more



ATG MEMBERS | Underwriters' Bulletin
Title Insurance: Omitted Assessments — Omitted assessments that are assessed against a property after the effective date of a title insurance policy are excluded from coverage... read more
Closings; Income Taxation: 1099 Real Estate Tax Reporting — In the case of sales of real estate, the settlement agent (closer) must report to the IRS the seller's income from the sale using the 1099-S form... read more



IN THE NEWS | Donation to Chicago Bar Foundation; ATG Holiday Reception Photos
Legal Aid Groups Receive Significant Donation to Help at-risk Chicagoland Homeowners Prevent Foreclosure

CBF Gift Presentation photoPierce & Associates P.C., Codilis & Associates P.C., Attorneys' Title Guaranty Fund Inc. (ATG) and the Law Bulletin Publishing Co. recently made donations to The Chicago Bar Foundation (CBF) totaling $125,000 to support several pro bono and legal aid organizations that are working to help the growing number of people facing foreclosure. In the photo (from left to right) are CBF Executive Director Robert A. Glaves; Denis B. Pierce of Pierce & Associates; Ernest J. Codilis Jr. and Gregory J. Moody of Codilis & Associates; CBA 2nd Vice President and ATG Board Member Aurora A. Austriaco; ATG President and CEO Peter J. Birnbaum; Sandy Macfarland, CEO of Law Bulletin Publishing Co.; and ATG Senior Vice President Henry L. Shulruff... read more

We Had a Ball at the ATG Holiday Reception!

ATG held a year-end reception for our members, customers, and guests on December 16, 2010, at the Great Hall at Chicago's Union Station. More than 450 attended and had a fantastic time... read more

    Reception photo #0258
ATG members and guests enjoying the Holiday Reception.

There's still time to place your print order for event photos... view and order photos



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!

Legal Ed Logo Sml
Post Settlement Considerations - Strategies on
Deferred Attorneys' Fees and Structured Settlements

Learn how you can set up structured attorneys fees to create tax-deferred cash flow for your firm, and much more.
Tuesday, February 22, 2011
1.50 MCLE | Connect webcast

Package Users | All Others

One Payment Buys ATG Legal Ed Seminars for One Year - With a Lawyer Discount Package, you pay once and get direct access to our library of more than 40 OnDemand programs PLUS our full 2011 calendar of live programs when they're available... read more

See ATG Legal Education at for our full program list.

  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

ATG Trust logo 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

NOT A MEMBER YET? Learn about the benefits to you and your clients.




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[Last update: 2-16-11]