This handbook provides detailed guidance, including provisions to cover varying client matters, for drafting revocable grantor trusts as a key element of client estate plans.
This handbook is a must-have resource for Illinois probate and estate planning lawyers who plan, draft, and administer revocable grantor trusts for their clients’ estate plans. Topics covered include: the standard revocable grantor trust, funding the revocable grantor trust, planning for spouses and descendants, planning for incapacity, determination of the taxable estate, tax aspects of trust administration, drafting marital deduction and credit-shelter provisions, S corporations and Illinois revocable grantor trusts, and trusts by citizens or residents for noncitizen spouses. Also included are provisions that can be used to personalize a revocable trust for various client scenarios.
Elizabeth A. Garlovsky, Sarah M. Barnes, and Kimberly Harris-Browns, Harrison, LLP, Chicago
Chapter 1 — Overview of Revocable Grantor Trusts
Chapter 2 — Determination of the Taxable Estate
Chapter 3 — Planning for Spouses and Descendants
Chapter 4 — Drafting Marital Deduction and Credit Shelter Provisions
Chapter 5 — Tax Aspects of Trust Administration
Chapter 6 — Planning for Incapacity
Chapter 7 — Funding the Revocable Grantor Trust
Chapter 8 — Standard Revocable Grantor Trust Agreement
Chapter 9 — S Corporations and Illinois Revocable Grantor Trusts
Chapter 10 — Trusts by Citizens or Residents for Noncitizen Spouses (Qualified Domestic Trusts)
