Construing and Modifying Wills & Irrevocable Trusts-Litigating Disputed Estates and Trusts

This session provides an overview of the federal income tax rules for simple and complex trusts and estates and delves into structure and planning that may be available to minimize income taxes.

Having avoided the Congressional chopping block in 2021, Spousal Lifetime Access Trusts, or SLATs, continue to be a popular gift planning vehicle for married couples. This session will explore what makes SLATs so popular, with examples of many of the common provisions and drafting considerations for these trusts. In addition, this discussion will touch on maximizing clients’ gifting strategies through one or more SLATs, the reciprocal trust doctrine, the effects of divorce, and providing flexibility for changes in circumstances.

Review the impact of the Illinois Trust Code and learn steps you can take to resolve common and not so common issues.