By Matthew A. Quick
Senate Bill 2509, codified at 755 ILCS 5/16.2, provides the following:
A beneficiary of a trust may not be considered to be a settlor or to have made a transfer to the trust merely because of a lapse, release, or waiver of his or her power of withdrawal to the extent that the [...]
Entries Tagged as 'Estate Planning'
Trusts and Trustees Act and Crummey Trusts (Illinois)
September 3rd, 2010 · No Comments · Estate Planning
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Adoption Records (Illinois)
September 3rd, 2010 · No Comments · Estate Planning, Family Law, Probate
By Matthew A. Quick
Public Act 96-895, as of May 21, 2010, gives adults that were adopted access to their original birth certificates. For those born before January 1, 1946, they may access their original birth certificates immediately and for those born after January 1, 1946, they may access their original birth certificates after November [...]
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Mutual Wills (Illinois)
August 31st, 2010 · No Comments · Estate Planning, Probate
By Matthew A. Quick
In the case of Ernest v Chumley, step-children filed a complaint against their step-mother to determine their rights under a mutual will. A mutual will is generally regarded as one of two reciprocal wills that makes promises regarding the distribution of property upon the death of one of the spouses. This [...]
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The Estate, Issue Seven
August 26th, 2010 · No Comments · Estate Planning, Real Estate
By Matthew A. Quick
Real Estate Taxes
-Preface-
Welcome to the seventh issue of The Estate—the quarterly note intended to give access to easy-to-understand information and news involving real estate and estate planning.
For your convenience, and in the interest of our environment, The Estate is offered in digital form via e-mail. If you would like to receive [...]
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The Estate, Issue Six
April 30th, 2010 · No Comments · Estate Planning, Special Needs Planning
By Matthew A. Quick
HIPAA
-Preface-
Welcome to the sixth issue of The Estate—the quarterly note intended to give access to easy-to-understand information and news involving real estate and estate planning.
For your convenience, and in the interest of our environment, The Estate is offered in digital form via e-mail. If you would like to receive The Estate [...]
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The Estate, Issue Five
February 4th, 2010 · No Comments · Estate Planning, Real Estate
By Matthew A. Quick
Trusts
-Preface-
Welcome to the fifth issue of The Estate—the quarterly note intended to give access to easy-to-understand information and news involving real estate and estate planning.
For your convenience, and in the interest of our environment, The Estate is offered in digital form via e-mail. If you would like to receive The Estate [...]
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Transfer of Vehicle Outside of Probate at Death of Owner (Michigan)
December 9th, 2009 · No Comments · Estate Planning, Probate, Special Needs Planning
By Matthew A. Quick
Michigan law allows for the transfer of vehicles of deceased owners outside of the probate process with Secretary of State form TR-29. The controlling law, MCL 257.236(2), provides:
If an owner of 1 or more vehicles, which vehicles do not have a total value of more than $60,000.00, dies and the owner [...]
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Real Estate and a Certificate of Trust Existence and Authority (Michigan)
December 9th, 2009 · 1 Comment · Estate Planning, Real Estate, Special Needs Planning
By Matthew A. Quick
As provided in MCL 565.431, et seq., a certificate of trust existence and authority (referred to as a “certificate of trust”) or the entire trust declaration may be filed at a register of deeds office. Filing either a certificate of trust or the entire trust declaration when real property is placed [...]
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Powers of Attorney and Living Wills (Illinois)
December 8th, 2009 · No Comments · Estate Planning, Guardianship, Special Needs Planning
By Matthew A. Quick
A health care power of attorney appoints an agent to act on a patient’s behalf when he or she is unable, pursuant to a list of directives. On the other hand, a living will sets out a list of wishes, but does not give anyone the power to act on a [...]
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Trust Subject to Attorney Approval (Illinois)
December 8th, 2009 · No Comments · Estate Planning, Special Needs Planning
By Matthew A. Quick
In light of the recent holding in Dunn v Patterson, Nos. 3-07-0881, & 3-08-0350, estate planning documents that do not allow amendment or revocation except with the drafting attorney’s consent or upon order of court are not void as against public policy. The Court noted that it is reasonable for an [...]
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