You may have heard about the minimum wage hike, the huge public works program, and the legalization of cannabis and sports-betting, but in the flurry of legislation recently passed by the Illinois State Assembly, which new laws will impact your estate plans? Here’s a look at four new laws to factor into your thinking as you update your plans.
Disputes Over Remains: IL-HB1455
In a Nutshell: Illinois’ current Disposition of Remains Act says that a person can
provide written directions or designate someone to direct what happens to their
remains after they die. The new law is an amendment to this, stating that any
dispute concerning the control of someone’s remains must be resolved by a court
within 30 days of the dispute being filed.
Status: Signed by the governor on August 16, 2019
Illinois Trust Code: IL-HB1471
In a Nutshell: This is a complete revision of current Illinois law on trusts and applies to
every category of trust instrument. It’s part of a larger movement to make laws
around trusts uniform from state to state. Key changes include new definitions of
trust-related terms and new provisions governing every aspect of how trusts are
created and administered.
Status: Effective January 1, 2020
Aging Abuse Investigations: IL-HB3065
In a Nutshell: This law is an amendment to the Adult Protective Services Act and expands who investigators can speak to when looking into allegations of elder abuse, including service agencies, family members, neighbors, friends and others who may be able to provide information. The goal is to get a more complete picture to protect older individuals to the greatest extent possible.
Status: Pending the governor’s signature
ABLE Accounts: IL-SB1387
In a Nutshell: Achieving a Better Life Experience (ABLE) accounts enable the families of disabled young people to set aside money for their care. The new law is an amendment that allows family members to open, maintain and transfer funds to an ABLE account without the expense of going through a guardianship court.
Status: Effective August 9, 2019
Want help understanding how these laws impact estate planning for you or your clients? Reach out anytime and our attorneys are happy to help.