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Volume II - Issue No. 2 - Summer 1999

Attorneys' Title Guaranty Fund

Attorney Linnea E. Thompson has joined Attorneys' Title Guaranty Fund Inc.(ATG), a lawyer-based service organization that provides title insurance to homeowners and lenders.

Title insurance typically protects against financial loss from defects in title. Examples of title defects which might not be discovered in a routine title search include (1) errors in public records, (2) liens against the property or the seller which become the new owner's responsibility after the sale, and (3) forged documents and invalid deeds.

Y2K-OK. ET TU?

Yes, even lawyers have to be concerned about Y2K problems. Our law firm is diligently assessing and addressing any potential Y2K problems which could affect our day-to-day operations.

Equipment is being verified as being Y2K compliant. Software is being updated or replaced.

 While we cannot guarantee that we will not encounter problems, we are not taking a "wait and see" attitude.

If you have any questions as to whether and how you will be affected by the "millenium bug", you are urged to consult with appropriate experts.

Should You Trust A Trust?

A living trust is an important estate planning option. But not everyone needs a trust. A living trust should be considered if:

  • you own real estate in more than one state;
  • you have assets in excess of $600,000; or
  • you want to reduce or avoid federal estate and Illinois inheritance taxes.

Under Illinois law, the preparation of a living trust by anyone other than yourself or a licensed attorney is a criminal act. It is important to seek professional advise when planning your estate.

DISORDER IN THE COURT

(ACTUAL STATEMENTS MADE IN COURT)

Q: Were you present when your picture was taken?
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Q: Did he kill you?
***
Q: How far apart were the vehicles at the time of the collision?
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Q: You were not shot in the fracas?
A: No, I was shot midway between the fracas and the naval.

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