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      • Divorce Proceedings in Illinois: What You Need to Know (Quick Prep)
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      • Contracts
      • Corporate/LLC Records Maintenance
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      • Succession Planning
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      • What is Bankruptcy
      • Consumer
      • Foreclosure Defense
      • Banking & Creditors Rights
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Tag Archives: Irrevocable Trust

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  2. Entries tagged with "Irrevocable Trust"

The Difference Between Irrevocable Trusts and Revocable Trusts

Estate Planning, TrustsBy Kevin DrendelMay 26, 2020Leave a comment

Trusts are very robust and handy estate planning tools. If you are not familiar with trusts, perhaps you should read some articles that explain what trusts are (See Trusts Compared to Corporations; The Benefits of Living Trusts; and Avoiding Probate is a Matter of Trust) Even if you are familiar with trusts, the difference between…

The New Illinois Trust Code – Accounting

Estate Planning, Living TrustBy Kevin DrendelFebruary 6, 2020Leave a comment

Some significant changes affecting trusts have come to Illinois with the New Year. Effective January 1, 2020, the Illinois Trust Code replaced the Illinois Trusts and Trustees Act. One of the biggest areas of change involves the duty of a trustee to provide an accounting. One of the hallmarks of the fiduciary duty that applies…

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