Publications

Articles on Trusts

Protecting Client Settlement Funds with Special Needs Trusts

By Lauren Pierucci
August
2017
Article
Page 40
Protecting Client Settlement Funds with Special Needs Trusts

From the Discussions - What if the Executor Is the Joint Tenant on the Decedent’s Disputed Bank Account?

March
2017
Article
Page 39
Q. My client's estranged wife refuses to let him see the kids. Does that constitute "concealment," thereby justifying an order of protection against her?

From the Discussions - How do you show that the trustee accepted a transfer of real estate?

December
2016
Article
Page 41
Q. How do you show acceptance by the trustee of a transfer of real property into a trust under Pub. Act 99-0743?

Rights of land trust beneficiaries shall not be impaired by change of trustee

October
2016
Illinois Law Update
Page 18
Under the new Land Trust Beneficiary Rights Act, the rights of land trust beneficial owner(s) shall not be impaired by the change of trustee if beneficial owner(s) remain the same.

Trusts and Trustee Act amended to require recording of real property transfers to trust

October
2016
Illinois Law Update
Page 18
The new amendments to this Act require that all transfers of real property to a trust must include a conveyance of legal title.

Overturning Mendelson: Bill would forbid conveying real estate to trust without deed

By Matthew Hector
May
2016
LawPulse
Page 10
Proposed legislation would amend the Trusts and Trustees Act to require that all transfers of property into a trust be evidenced by a written conveyance and acceptance by the trustee.

Agent-Swapping POAs and More

December
2014
Column
Page 596
Should a health care POA swap out agents after a triggering event?

Supreme court declines to extend doctrine of election beyond wills to trusts

By Adam W. Lasker
July
2013
LawPulse
Page 330
The Illinois Supreme Court found the doctrine irrelevant to the facts of In re Estate of Boyar, leaving the question of whether it applies to trusts as well as wills for another day.

Opportunities and Pitfalls in the New Illinois Directed Trust Statute

By Daniel P. Felix
June
2013
Article
Page 292
The new law allows unbundling of trustee investment and distribution responsibilities and adds a supervising trust protector.

Supreme court: decedent can’t use spendthrift trust to back out on gift

By Adam W. Lasker
November
2012
LawPulse
Page 574
The ruling barred a decedent from using a spendthrift trust to effectively revoke his irrevocable gift to Rush Medical Center. Leading ISBA lawyers think it's time for the legislature to clarify Illinois trust laws.

Trusts & Trustees Act Modernized: Decanting and Directed Trusts

By Mary D. Cascino, Lyman W. Welch, and Susan T. Bart
November
2012
Article
Page 596
Effective January 1, the Act gives estate planners two powerful new tools. Find out what they can do for your clients.

Dynasty Trusts for Everyone

By Mary D. Cascino
August
2012
Column
Page 440
Dynasty trusts give even those of ordinary means a way to minimize estate taxes prospectively.

Three bills would modernize the Trusts and Trustees Act

By Adam W. Lasker
May
2012
LawPulse
Page 234
Among other changes, the legislation would make nonjudicial trust modifications easier and limit the risk of liability for fiduciaries who handle specific trust-related tasks.

Attorney for the Trust: Does Attorney-Client Privilege Belong to the Trustee or the Beneficiary?

By Tina N. Babel
October
2010
Article
Page 524
Lawyers for trustees are sometimes surprised to learn that the attorney-client privilege actually belongs to trust beneficiaries. Here's a look at the confusing state of Illinois law.

Amendment to the Trusts and Trustees Act regarding lapse of power to withdraw. PA 096-0980.

September
2010
Illinois Law Update
Page 452
According to Illinois lawmakers, even if a beneficiary of a trust releases or waives his or her power to withdraw or allows it to lapse, the beneficiary still may not be considered to be a settlor or to have made a transfer to the trust. (755 ILCS 5/16.2)

Refuse the Bequest or Lose the Will Contest: The Unforgiving Doctrine of Election

By Robert S. Held
July
2010
Article
Page 374
Beneficiaries who accept even a small bequest can be estopped from later challenging the will - and the principle applies to trusts, too.

Personal Liability of an Executor or Trustee - Time for a Change

By Timothy L. Bertschy
March
2010
Article
Page 140
Illinois' common law too often makes estate and trust executors and trustees personally liable to third parties, the author argues.

The Illinois QTIP Election to the Rescue

By Robert J. Kolasa
December
2009
Article
Page 612
Big news for estate planners - the new Illinois QTIP lets clients use the full federal exclusion without Illinois estate tax consequences.

Read the letters to the Editor

December
2009
Column
Page 594
Use trusts, not wills in most cases; Robes, dickies, and wigs.

Illinois Supreme Court upholds jewish-marriage clause in trust provision

By Helen W. Gunnarsson
November
2009
LawPulse
Page 546
But the court's narrow framing of the issue avoids the question of whether such religious restrictions in wills and trusts are broadly permissible.

New Law Promotes Private Trust-Administration Agreements

By Lyman W. Welch and Susan T. Bart
November
2009
Article
Page 562
The new Illinois virtual representation law allows more trustees and beneficiaries to resolve trust matters by private agreement.

2009 Spring Session Roundup

By Jim Covington
August
2009
Column
Page 396
A summary of key legislation.

Passing the Buck: Private Split-Dollar for Every Vocabulary

By Katarinna McBride
May
2009
Column
Page 262
Split-dollar agreements allow wealthy clients to use life-insurance trusts to avoid gift taxes and maximize estate value.

Beneficiaries can’t be given power to approve trustee accounts

By Helen W. Gunnarsson
April
2009
LawPulse
Page 168
A trust can't allow a majority of beneficiaries to approve the trustee's accounts, the Illinois Appellate Court holds.

Estate Planning for FDIC Coverage

By Katarinna McBride
November
2008
Column
Page 590
New FDIC rules provide more protection for revocable trusts.

Living trust amendment drafted by a nonlawyer ruled invalid

By Helen W. Gunnarsson
September
2008
LawPulse
Page 438
A living trust amendment drafted by a nonlawyer is invalid under the Consumer Fraud and Deceptive Business Practices Act, the Illinois Appellate Court rules.

Trust and Trustees Act amended. PA 95-0605

April
2008
Illinois Law Update
Page 180
The Trusts and Trustees Act has been amended by changing section 4 and adding section 4.26. 760 ILCS 5/4, 760 ILCS 5/4.26. 

Supremes limit trusts ability to subtract investment-advice costs

By Helen W. Gunnarsson
March
2008
LawPulse
Page 118
The U.S. Supreme Court holds that trusts are subject to a two-percent floor for subtracting investment advisory fees from their taxable income.

Estate attorneys disqualified from representation of deceased client’s son

February
2008
Illinois Law Update
Page 72
On December 3, 2007, the Illinois Appellate Court, Second District, affirmed the decision of the Circuit Court of Du-Page County granting in part Northern Trust Company's motion to disqualify counsel for Peter Wright. 

Small-trust-termination amendment gets mixed reviews

By Helen W. Gunnarsson
December
2007
LawPulse
Page 622
It’s good to allow trustees to terminate small trusts when fees are consuming income. But should income, rather than remainder, beneficiaries automatically get the proceeds?

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