New Laws for the New Year / New Decade
Two new laws result in "big" changes for Illinois residents, as we move into the new year and new decade. To learn more about the federal law changes impacting deferrable retirement benefits, check out the first article of this month's newsletter: "New Law Makes Big Changes to Retirement Plans."
At the state level, the new Illinois Trust Code took effect on January 1, 2020. This law has made significant changes regarding Illinois trusts. If your estate plan includes a trust, we strongly encourage you to meet with an attorney to learn how the new law impacts your current planning and, if need be, to update your planning.