Statutory Amendments Affecting the Illinois Power of Attorney for Property – Boon or Bane for Estate Planning Attorneys?By Mia O. Hernandez & Jennifer Bunker SkerstonDecember 2024Recently, lively discussion ensued among estate planning practitioner members of the Trusts and Estates Section on the ISBA Central Community discussion board regarding Public Act 103-0994, effective January 1, 2025, which amends the Illinois Power of Attorney Act to add and describe unreasonable and reasonable causes for a third party to refuse to honor powers of attorney for property. The impetus for the Act’s amendment was to redress the perceived problem that it is not uncommon for third parties to unreasonably reject powers of attorney for property.
Taxable IRAs and Credit Shelter Trusts Under the SECURE ActBy Curt W. FergusonMay 2024Trusts can be designed to give the second and third beneficiary types broad control over their inheritance even while they benefit from the tax and catastrophe protections.
Thank You to Our AuthorsBy Jennifer Bunker SkerstonSeptember 2024A thank you to the authors who contributed to the 2023-24 bar year issues of the Trusts & Estates newsletter.