Friday, September 30, 2022

Can a Trustee Be Held Personally Liable?

If you are ever appointed a trustee, you will have a fiduciary duty to act on behalf of the beneficiaries. If you breach that duty,...

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Could Your Beneficiaries Make the Cut? The SECURE Act’s Eligible Designated Beneficiary

Ushering in the new 10 Year Rule, the SECURE Act has changed the way inherited retirement accounts are now distributed. That is, to everyone...

The New Legal Rights of Your Beneficiaries: Should These Be Drafted Out of Your...

In keeping with uniform trust law, Illinois has joined 34 other states in adopting its own version of the Uniform Trust Code known as...

Your Quick Guide: What to Do About the SECURE Act and Your Estate Plan

On December 20, 2019, President Trump signed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act), effective January 1, 2020. This law...

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Give Kids the House and Cut Taxes with a QPRT Trust

If your estate is substantial and you're concerned about the tax hit on your heirs, there's a smart way you can use your house to...