Randall H. Borkus

  Practice Areas

  • Income Tax Planning
  • Zero Estate Tax Planning
  • Estate Succession Planning
  • Business Succession Planning
  • Asset Protection
  • Generational Wealth Preservation
  • Estate Planning
  • Philanthropic and Charitable Planning
  • Trusts
  • Probate
  • Corporate Formation

Education

Randall received his Juris Doctorate and LL.M. in Taxation from the John Marshall Law School in Chicago, where he served as Senior Editor on the Journal of Computer and Information Law. He earned his Master of Science in Financial Market and Trading from the Illinois Institute of Technology and received his Bachelor of Science in Finance with honors from the University of Northern Illinois.

Experience

Randall H. Borkus has offices in Minot, North Dakota and Oak Brook, Illinois. Randall has a deep background in taxation and finance. His primary focus is on family asset preservation planning, income tax planning, zero estate tax planning, life insurance planning, estate planning, and providing counsel to entrepreneurs, financial advisors, accountants, insurance wholesalers, CPAs, business professionals, and other estate planning attorneys.

Randall’s background is in life insurance, finance and tax so the gift and estate tax sections of the tax code are a natural fit with his training. He served as the past Chairman of the Chicago Bar Association’s Asset Protection Committee and has taught Estate Planning at Northwestern University School of Continuing Studies.  He is also a national speaker at estate planning conferences for National Network of Kingdom Advisors, Estate Planning Attorneys, Advisors In Philanthropy (AiP), Eplanners Educational Network, Purposeful Planning Institutes, and Wealth Counsel, LLC.  He has authored and co-authored numerous articles on asset protection and estate planning topics.

Randall spent most of his career focusing on comprehensive estate plan design, educating and collaborating with other professionals on ultra-high net worth clients.  He designed and crafted the Bloodline Preservation Trust SM to provide families with protection and security for generations.

Randall also helps families of all sizes protect what is most important to them—Family.  His practice has a special focus on income tax planning, estate succession planning, business exit planning, and asset protection.  His work is a lifelong passion which is about people and what is most important to them.

Background

Randall comes from a long line of dairy farmers. His grandfather Henry was a dairy farmer in Ladysmith, Wisconsin.  Times were pretty tough back then and it was really difficult to make a living selling milk and growing potatoes.  Randall’s father Harold would tell stories that the only time there was meat on the table was when they hunted something and brought it home for his grandmother Helen to cook.

As Randall’s father tells the story, the family experienced a series of tragedies such as weak milk prices, the death of George, Randall’s uncle, who was killed in a hunting accident (and buried at Riverside Cemetery), no job opportunities, no business plan, no family legacy vision and no one Grandpa Henry trusted to help him think through the family business.

At the young age of 14, Randall’s father Harold decided to leave Ladysmith and walk to Chicago to make his way in life.  It took Harold a whole year working farm jobs for a dollar a day but he made it to Chicago and found a job as a welder $.75 an hour and all the hours he wanted to work.

Randall’s family, like so many others, suffered from lack of preparation and they literally lost the farm due to mismanagement and a lack of a plan.  This reality fueled Randall’s passion for working with farmers and ranchers to keep the farm and the ranch in the family for generations.

Memberships

  • Kingdom Advisors Member
  • Willow Creek Community Church Member
  • Advisors in Philanthropy (AiP)
  • National Network Estate Planning Attorneys a national association of estate planning attorneys
  • SunBridge Legacy Program – The power of Stories and Families
  • Chicago Bar Association
  • Committee Membership: Asset Protection Committee; Sports Law Committee; Federal Taxation Committee, Media & Entertainment Law Committee
  • Purposeful Planning Institute: a learning center for professionals interested in working collaboratively with other professionals for families in business and families of significant wealth
  • WealthCounsel, LLC a national association of estate planning attorneys

Personal

Randall’s favorite things are his church and long walks on the beach with his wife, Janis, and his daughter, Melissa.   In his spare time he enjoys reading, deep sea fishing, hunting and creative writing for the online magazine Whiskey Reviewer.