The Trusted Adviser

July 2015 | Volume 8 - Number 6

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ATG Member Agents: Do You Have a Succession Plan? 

John G. O'Brien photo

Each year, ATG welcomes more younger lawyers into the ranks of membership. Their youth, enthusiasm, and tech-savvy nature is a boon to our organization and bodes well for our future. But the fact remains that many of our most active ATG members are in their 50s and 60s. Some older. Until I joined the ATG staff, I was one of them! While we know many of our members have a lot of productive years ahead, some are winding down. Many who are within retirement range have plans in place to transition out of their law practices and already have the people on board who will take over. But some don't. Some lawyers are on their own out there—no partners, no support staff. Their offices are stacked with files, and while they may know where everything is and have their best clients' contact information memorized, if something unexpected happens to the lawyer, who contacts the clients regarding any pending matters? Who even knows what the pending matters are?

I urge you to read this article on succession planning by ARDC Senior Counsel. (Originally published in the ISBA's February 2014 Senior Lawyers newsletter, reposted here with permission from the ISBA and the author.) Do your clients, family, and the Bar a favor and put some meaningful time into succession planning.

John G. O'Brien
Vice President and Counsel to the President
Attorneys' Title Guaranty Fund, Inc.

ATG MEMBERS | Underwriters' Bulletin

Underwriters' Bulletin

Condominium Parking Spaces — Well before closing, determine whether your client is buying or selling a parking space and what type of parking space it is.

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ATTORNEYS | Practice Notes

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Real Estate and Title Insurance News

Preventing and Resolving Identity Theft — Warning: Attorneys may be found guilty of ethical violations if their conduct was the proximate cause of the identity theft.

Your Responsibility for Compliance under TRID — Bank of America addresses CFPB's TILA-RESPA Integrated Mortgage Disclosures (TRID) rule.

Legislative Update

Condominium Insurance: Effective June 1, 2015 - Public Act 98-0762 — Amends the Condominium Act to provide that insurance issued or delivered to a condominium association starts at the time the insurance is purchased.



Decedents' Estates: In re Estate of LaPlume — Probate courts have discretion to order the sale of real property free and clear of all liens if it's necessary for the proper administration of the decedent's estate.


Co-Tenancy: Powell v Estate of Powell — Property conveyed to two brothers "as tenants by the entireties" created a joint tenancy with right of survivorship, and not a tenancy in common.


Homestead: Wilcox v Estate of Hines — Subjective intent is relevant in an adverse possession claim to rebut the presumption of hostility that arises when all other elements of adverse possession are satisfied.

IN THE NEWS | ATG Hosts Top Member Events, ILTA Names ATG Officer its President, ATG Backs Relay for Life

2015 Top Member Chicago event photoATG Celebrates Top Members and Customers — Congratulations, Top Members! 

ATG’s Christine Sparks Installed as ILTA President — She joins the ranks of several ATG attorneys who have served on Illinois Land Title Association boards and committees over the years.

Team ATG: Stompin' Out Cancer — Team ATG and 65 other teams raised more than $160,000 for the American Canceer Society.

WHAT'S NEW | Trust, CLE, and Process Services

ATG Trust Company logoGot Trust and Estate Questions? Our FAQ page has your answers. At ATG Trust Company, our mission is to bring a complete line of professional trust, estate, and investment services to attorneys and their clients. Need to know more? Contact us — we're here to help.

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[Last update: 7-28-15]