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Am I Doing this Right? A One-Year Checkup on the Illinois Trust Code

Review updates to the Illinois Trust Code one year later. Topics covered include drafting and modifying trusts to permit beneficiaries, mandatory and elective provisions on notices and accounting, merger doctrine, tools for trust modification, and litigation protection provisions. This half-day program will conclude with a Q&A panel with our esteemed faculty.

Registration includes post-event access to the online on-demand recording.
Credits: 4.5 General, 0 Diversity/Inclusion PR, 0 MH/SA PR, 0 Other PR

Tuesday, June 22, 2021
Virtual Conference via Live Webcast

11:30 – 11:40 Log into the webcast via your account at www.iicle.com

11:40 – 11:45 Welcoming Announcements: Susan T. Bart, Schiff Hardin LLP, Chicago , Program Moderator

11:45 – 12:30 Qualified Beneficiaries and Their Representatives
Learn how to identify qualified beneficiaries and determine when, and if, they may be represented by others. Get tips on drafting and modifying trusts to permit beneficiaries, especially young beneficiaries, to be represented by others.
Susan T. Bart, Schiff Hardin LLP, Chicago
Tye J. Klooster, Katten Muchin Rosenman LLP, Chicago

12:30 – 1:15 Show and Tell: Beneficiary Notices and Approval of Accounts
Review the Illinois Trust Code’s mandatory and elective provisions on required notices and accountings to beneficiaries, including who is entitled to what information, when, how and why. Learn how the terms drafted into the governing instrument can impact a beneficiary’s right to information.
Adam M. Damerow, Katten Muchin Rosenman LLP, Chicago
Jane Ditelberg, Northern Trust, Chicago

1:15 – 2:00 Is This Trust Valid? A Proper Look at the Merger Doctrine
Evaluate what you need to know about the doctrine of merger and how it impacts the spendthrift protection of a trust.
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

2:00 – 2:15 Break

2:15 – 3:00 A Change Will Do You Good: Tools for Trust Modification
Explore various methods for changing the terms of otherwise irrevocable trusts, including decanting, court reformation, early termination, and modification by non-judicial settlement agreements along with related notice and representation issues.
Adam M. Damerow, Katten Muchin Rosenman LLP, Chicago
Jane Ditelberg, Northern Trust, Chicago

3:00 – 3:45 What are Valid Litigation Protection Provisions Drafters Can Add to Trusts?
Review the pros and cons and enforceability of including provisions that are designed to deter litigation, including: indemnification and standard of care/exoneration provisions for fiduciaries (trustee, trust protectors, directors, etc.); requiring mediation; in terrorem clauses; shortening the statute of limitations period; waiving notice requirements; and opting into Section 913.
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

3:45 – 4:30 Faculty Panel Q & A
Each member of our top-notch faculty will answer your questions regarding the information covered in earlier sessions.
Susan T. Bart, Schiff Hardin LLP, Chicago
Adam M. Damerow, Katten Muchin Rosenman LLP, Chicago
Jane Ditelberg, Northern Trust, Chicago
Tye J. Klooster, Katten Muchin Rosenman LLP, Chicago
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

4:30  Adjourn


= IICLE® Publications Author

Live Webcast
Live webcast on Tuesday, June 22, 2021 from 11:40 AM to 4:30 PM.
SKU: P2102-21W
$225.00
e-learn
Now available for pre-order. Program will be added to your account shortly after the live webcast on 6/22.
SKU: P2102-21E
$225.00 or 4.50 credits
decrease increase

Tuesday, June 22, 2021
Virtual Conference via Live Webcast

11:30 – 11:40 Log into the webcast via your account at www.iicle.com

11:40 – 11:45 Welcoming Announcements: Susan T. Bart, Schiff Hardin LLP, Chicago , Program Moderator

11:45 – 12:30 Qualified Beneficiaries and Their Representatives
Learn how to identify qualified beneficiaries and determine when, and if, they may be represented by others. Get tips on drafting and modifying trusts to permit beneficiaries, especially young beneficiaries, to be represented by others.
Susan T. Bart, Schiff Hardin LLP, Chicago
Tye J. Klooster, Katten Muchin Rosenman LLP, Chicago

12:30 – 1:15 Show and Tell: Beneficiary Notices and Approval of Accounts
Review the Illinois Trust Code’s mandatory and elective provisions on required notices and accountings to beneficiaries, including who is entitled to what information, when, how and why. Learn how the terms drafted into the governing instrument can impact a beneficiary’s right to information.
Adam M. Damerow, Katten Muchin Rosenman LLP, Chicago
Jane Ditelberg, Northern Trust, Chicago

1:15 – 2:00 Is This Trust Valid? A Proper Look at the Merger Doctrine
Evaluate what you need to know about the doctrine of merger and how it impacts the spendthrift protection of a trust.
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

2:00 – 2:15 Break

2:15 – 3:00 A Change Will Do You Good: Tools for Trust Modification
Explore various methods for changing the terms of otherwise irrevocable trusts, including decanting, court reformation, early termination, and modification by non-judicial settlement agreements along with related notice and representation issues.
Adam M. Damerow, Katten Muchin Rosenman LLP, Chicago
Jane Ditelberg, Northern Trust, Chicago

3:00 – 3:45 What are Valid Litigation Protection Provisions Drafters Can Add to Trusts?
Review the pros and cons and enforceability of including provisions that are designed to deter litigation, including: indemnification and standard of care/exoneration provisions for fiduciaries (trustee, trust protectors, directors, etc.); requiring mediation; in terrorem clauses; shortening the statute of limitations period; waiving notice requirements; and opting into Section 913.
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

3:45 – 4:30 Faculty Panel Q & A
Each member of our top-notch faculty will answer your questions regarding the information covered in earlier sessions.
Susan T. Bart, Schiff Hardin LLP, Chicago
Adam M. Damerow, Katten Muchin Rosenman LLP, Chicago
Jane Ditelberg, Northern Trust, Chicago
Tye J. Klooster, Katten Muchin Rosenman LLP, Chicago
Rebecca Wallenfelsz, Chapman and Cutler LLP, Chicago
Ryan A. Walsh, Hamilton Thies & Lorch LLP, Chicago

4:30  Adjourn


= IICLE® Publications Author

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