• vcard
312.873.2996
  • Education
    • LL.M., with high distinction, DePaul University, 1995, Taxation
    • J.D., John Marshall Law School, 1985
    • B.S., Bradley University, 1981, Accounting
  • Court Admissions
    • U.S. Tax Court
    • Illinois Supreme Court
    • U.S. District Court, Northern District of Illinois
    • State of Illinois
William (Bill) Long leads the Wealth Planning practice in Chicago and brings over 30 years of estate and tax planning experience to the group. His practice focuses on wealth planning for high net worth individuals, including business owners, key executives, and family offices.

In connection with wealth management and estate planning clients, Bill prepares the following for clients:
  • Wills
  • Grantor trusts
  • Insurance trusts
  • Generation skipping trusts
  • Residence trusts
  • Pre- and post-marital agreements
  • Probate filings
  • Gift/estate tax returns
  • Family limited partnerships

Bill frequently advises high net worth clients on the creation, funding and administration of family offices. He has extensive experience advising closely held and family owned businesses on the orderly and tax efficient transfer of wealth to younger generations. In estate and trust administration matters, Bill represents individual and institutional trustees/executors with respect to their fiduciary obligations and responsibilities, and he has substantial experience with IRS audit and tax controversy work.
  • Created series of grantor retained annuity trusts for clients with (i) concentrated positions in publicly traded companies, and (ii) privately held companies, to transfer wealth to younger generations with minimal transfer-tax cost.
  • Assisted client in structuring multiple family limited liability companies to provide asset protection and take advantage of valuation discounts for estate and gift tax purposes.
  • Represented Estate in Appeal of U.S. Tax Court Decision and successful IRS negotiation of tax, fees and expenses.
  • Obtained dismissal of case against decedent's estate in U.S. Tax Court involving assessed liability under National Tiered Partnership Audit.
  • Assist younger generation siblings in determining their position, financial stake, and future roles in a family owned businesses.
  • Advised clients owning oil and gas investments in purchase, structure of family LLC, and gifting strategies.
  • Represented multi-million dollar estate in federal estate tax return preparation and IRS audit involving farm land, 2032A tax benefits, and 1031 like kind exchanges – no change on audit.
  • Advised individual client on a transaction and court approval for the sale of $35 million of assets from a generation-skipping transfer tax exempt trust created in the 1940s to a newly formed family dynasty trust created to efficiently transfer wealth to client’s descendants.
  • Represent corporate trustees and trust beneficiaries in the preparation of non-judicial settlements and virtual representation agreements to address issues arising in trust administration.
  • Assisted highly profitable family owned business with gift and sale transactions to shift ownership of family business in a tax-efficient manner to younger generations.
  • Assist professional athletes with premarital and estate planning, creditor protection, business planning and general legal counsel.
  • Represented trustee and family in successful Trust Decanting.
  • Assisted family owned company with reorganization, purchase of third party interests, gift and sale transactions, and removal of life insurance from estate taxation.


eAlerts Alerts
April 2018
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Advanced Wealth Transfer Strategies
Presenter, MET LIFE 3-Day Boot Camp
March 2016
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Agriculture Business Succession Planning
Presenter, Moore-Warner Farm Management
June 2015
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2010 Tax Act and Illinois Estate Tax
Guest Speaker, WJJG Radio - 1530 AM
April 2011
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Recent Developments Including LP and LLC Valuation Cases, State Tax Decoupling, and Asset Protection
Speaker, First Midwest Trust Continuing Legal Education Seminars
November 2009
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Divorce and Family Business
Author, Business Entities Magazine
April 2007
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