CBA Record March-April 2026

THE YOUNG LAWYERS SECTION

that lack marketable title. These compli cations can trigger further legal issues, including clouded title, inability to insure or refinance, exposure to preda tory acquisitions, and loss of eligibility for property-based exemptions. Even families who work diligently to secure housing and asset stability may still lose signifi cant value upon transfer without the legal tools needed to protect those assets. Structural barriers to wealth transfer are worthy of civil rights intervention. Gary Hoover, Executive Director of the Murphy Institute and Economics Pro fessor at Tulane University, believes that, compared to income, wealth is “transfer able and intergenerational,” and being able to pass wealth from one generation to the next will be key to closing the national wealth gap. Chicago’s own wealth-transfer gap demonstrates that unless legal and financial tools required for asset inheritance are made accessible Closing the Gap and Expanding Access to Wealth Preservation

across all communities, the benefits of the nation’s historic wealth transfer will remain unevenly distributed. Federal tools such as the Community Reinvestment Act (CRA) and special purpose credit programs (SPCPs) were designed to expand credit access and counteract decades of discriminatory lending. Investment in these mechanisms has been uneven and often insufficient to meet the needs of historically excluded communities. CRA obligations vary widely across institutions, SPCP adop tion remains limited, and many neighbor hoods continue to experience lower loan approval rates, higher borrowing costs, and reduced access to financial products that support long-term wealth building. The impact is clear: Without consis tent and robust deployment of wealth building tools, families in disinvested areas remain disproportionately locked out of opportunities to acquire, improve, and retain assets that form the foundation of generational wealth. Without systemic investment in wide

spread access to legal resources for wealth transfer, Chicago family’s risk being left behind in this era of unprecedented generational wealth transfer. Initiatives such as the Cook County Legal Aid for Housing and Debt, the North Lawndale Homeownership Preservation Initiative, and nonprofit estate-planning clinics show that accessible legal support can sta bilize families and protect multi-genera tional assets. By strengthening legal infrastructure, prioritizing equitable access, and empow ering families with the tools necessary to protect their assets, the city can move closer to a future where wealth is not only created but preserved and shared across generations.

Jordan Whisenton is an Associate with the Hardwick Law Firm, LLC and focuses primarily on Finance and Corporate Law.

CLE & MEMBER NEWS

We’re on the Move

Momentum doesn’t happen by chance. It’s built by people willing to lead, innovate, and work together. Together, we have done exactly that. Over the past year, the CBA earned national recognition from the Amer ican Bar Association for creating the first comprehensive approach to artificial intelligence in legal practice through our AI 2035 initiative, and we strengthened our collective voice by establishing the Coalition of Chicagoland Bar Associations. These accomplishments reflect what is possible when the Chicago legal community are actively engaged in shaping the future of our profession. By renewing your CBA membership, you ensure continued access to learning, leadership, and career advancement tools, including free CLE on demand 24/7, business development programs, exclusive member

content, mentoring programs, and more. With a strong local focus, the CBA remains committed to delivering excellence and meeting the evolving needs of our legal community.

Over the past year, we have worked tirelessly to

foster meaningful engagement and enhance the overall membership experience. We invite you to renew your membership, take advan tage of free CLE coupons, and remain part of the community driving innovation, connection, and leadership in Chicago’s legal profession. We look forward to building on this momentum—together. Renew now at www.chicagobar.org/renew or call 312-554-2020.

Take Advantage of Payment Options

We appreciate your membership and want to make renewal easy. • Installment payments are available for your convenience. Spread your payments throughout the year by signing up for the Dues Installment/Auto Pay Plan, at no extra cost with automatic credit/ debit card charges. Email billing@chicagobar.org to enroll in this plan.

• Unemployed members and those with financial hardships may request our reduced annual dues rate of $50, and retired members may request a $75 retired rate. Email your request to membership@ chicagobar.org.

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