Trust Modernization I

| August 17, 2012

Trust modernization I. Public Act 97-920 (McAsey, D-Lockport; Dillard, R-Hinsdale) modernizes Illinois trust law by allowing “decanting” of trusts. Public Act 97-920 allows an irrevocable trust to evolve to meet a family’s changing needs without court involvement. It is modeled after the laws of Delaware and New York. Effective January 1, 2013.

Back to Top

Testimonials

I first met the attorneys at Reda & Des Jardins after our condo association considered suing the master association for what we believed to be an illegal restructuring of cost allocations. Looking for a lawyer, I phoned friends and former associates for referrals and surfed the internet. I found two candidates that looked like good prospects. I made appointments to interview them. Reda & Des Jardins, whom I found on the internet, was first. It was a Saturday, and the Reda & Des Jardins attorney I met was leaving for a week’s vacation the next day. We met at a bagel shop in his home town. After two hours I was convinced R&D was the one. I canceled the second interview, and recommended R&D to the board. They accepted, and we hired them.The things about R&D which impressed me were their knowledge of property law, experience as litigators, their highly integrated computerized legal system and their proposed approach to our case. I had the pleasure of working closely with them. R&D was well prepared for trial. Both the opposing attorney and the judge agreed with them that there was no precedent for our case. We won, and the defendant signed a settlement agreement favorable to us. I was impressed with R&D’s handling of the case, and I would recommend them highly.

Marcel DurotRivershire Condominium Association I