Learn about the various types of business entities and how to select the appropriate entity. Understand the management, organizational structure, and tax advantages/disadvantages of the S Corporation. In addition, review the fiduciary duties of business owners and shareholders for different types of business entities.
Learn whether the Illinois Trust Code imposes new fiduciary duties on trustees or changes any of the existing fiduciary duties and how the Illinois Trust Code addresses trustee resignation, removals, and vacancies, as well as the rights and obligations of a trustee who resigns or is removed.
Learn which beneficiaries are entitled to receive accountings and copies of the trust instrument under the Illinois Trust Code. Get details about which trusts the rules apply to, whether the grantor can change these rights in the trust instrument, and what other information the trustee is required to provide to beneficiaries.
Explore modernizing updates to the familiar Prudent Investor Rule, including consideration of environmental, social and corporate governance factors in prudent investment. Also learn more about modifications to the duties of trustees in the administration of life insurance trusts.
This course provides an overview of this changing area of the law and the different viewpoints representing traditional, modern and fiduciary considerations . Includes practical drafting and administration suggestions to address and effectuate the trust creator’s goals.