Understanding Revocable Trusts (IL) | Practical Law

Understanding Revocable Trusts (IL) | Practical Law

A Practice Note explaining how revocable trusts fit into estate planning in Illinois and discussing key revocable trust drafting considerations. This Note addresses requirements for a valid revocable trust, types of property revocable trusts may hold, using a revocable trust with a pour-over will, and when revocable trusts are a good fit as the main vehicle for transfers at death.

Understanding Revocable Trusts (IL)

Practical Law Practice Note w-000-1602 (Approx. 44 pages)

Understanding Revocable Trusts (IL)

by Practical Law Trusts & Estates
MaintainedIllinois
A Practice Note explaining how revocable trusts fit into estate planning in Illinois and discussing key revocable trust drafting considerations. This Note addresses requirements for a valid revocable trust, types of property revocable trusts may hold, using a revocable trust with a pour-over will, and when revocable trusts are a good fit as the main vehicle for transfers at death.