McDermott partners spoke at the Chicago Estate Planning Council’s (CEPC) luncheon entitled “When Cash Isn’t King: Charitable Planning with Business Interests, Retirement Plans and Illiquid Assets,” held on October 23, 2025 in Chicago, IL. Their presentation discussed issues that arise from lifetime and testamentary charitable planning involving closely held business interests, retirement plans and illiquid assets. Specifically, the presentation discussed charitable tax deduction issues, intersection with rules applicable to donor advised funds and private foundations, administrative challenges, and fiduciary obligations.