DGAA bLAWg

Using Virtual Representation Effectively in Illinois

Web Admin - Wednesday, November 06, 2013

When a trust is created, many different people may have an interest in how it is administered. For example, it is common for the trust documents to allow one person to benefit immediately (i.e. a spouse), with others to receive the assets upon that beneficiary’s death (i.e. the children). Those who are set to inherit later obviously have a stake in how the trust is managed. Mismanagement may affect their interests.

But what happens if those future beneficiaries are children, disabled, or otherwise unable to effectively advocate for their interests? One solution is to go to court and have a judge appoint a guardian to act in their interest. But that process often takes significant time, is costly, and may be ineffective if the future beneficiaries are unknown, like unborn children.

Reaching an Agreement

Is there a way to settle disagreements involving a trust without going to court? Fortunately, there is.

Illinois has a “virtual representation” statute which allows select individuals to represent the interests of others to craft agreements, often dealing with disputes regarding a trust. Essentially, this law allows different parties to create agreements which avoid litigation and are binding on some future beneficiaries.

When used properly, these settlement agreements can solve ambiguities in the trust document, delineate duties of the trustee, and account for many other administrative issues. As a result, these agreements can be incredibly efficient, eliminating the risk of prolonged legal battles down the road.

Many Illinois residents are well served by exploring use of virtual representation to reach a nonjudicial agreement. However, it is important to proceed cautiously, usually with the aid of an attorney. When not created properly, the agreement may not hold up. Under the law, to be valid the primary beneficiaries must all be adults and legally competent. The trustee must also be a party to the agreement. Notably, the agreement cannot change the terms of the trust. In addition, the primary beneficiary must not have a conflict of interest with those who are being bound. To qualify as a primary beneficiary the individual must currently receive income or principal from the trust. Alternatively, the individual must be eligible to receive a distribution of principal at a certain date.

Learn More

Do you want to learn more about using virtual representation effectively? These issues are quite complex, and so it is helpful to contact a Palatine estate planning attorney to make sure you are doing everything in your power to protect your long-term interests. The law office of Drost, Gilbert, Andrew & Apicella, LLC serves clients in Palatine, Arlington Heights, Crystal Lake and other suburban Chicago areas.


Recent Posts


Tags

Palatine personal injury lawyer living trust vs will Palatine criminal defense lawyer Illinois driving without license insurance dispute employment law Chicago employment lawyer Palatine real estate lawyer employment lawyer foreclosed rental property Buffalo Grove employment lawyer estate plan no contest clauses Illinois Trust Code rest breaks car crashes Deer Park traffic lawyer Class A misdemeanor digital evidence Long Grove wills and trusts attorneys motorcycle accident Palatine corporate law attorneys Illinois lawyer eluding a police officer Illinois insurance disputes Illinois employment law attorney Rolling Meadows medical malpractice lawyers lapse in policy fatal car accidents caretaker rights independent contractor Palatine elder law attorney marijuana employment law, Illinois employment laws first degree murder product liability insurance disputes, Illinois insurance disputes, Illinois insurance dispute attorneys, denied insurance claims, Arlington Heights insurance dispute attorneys driving personal injury accidents loopholes Palatine traffic lawyer insurance claim dispute Palatine estate planning lawyer Arlington Heights Traffic Lawyer corporate law Chicago will attorney personal injury lawyer sexual images Arlington Heights real estate lawyer Palatine traffic accidents condo holiday statistics boating accidents wage theft Colin H. Gilbert Thanksgiving insurance claims vacation home fines internet rumble strips tax attorney Crystal Lake tax lawyer Inverness traffic law firm PTSD wills and trusts Retaliatory Discharge Illinois personal injury lawyers Illinois Smoke Detector Act defective products lawyer Schaumburg criminal law attorney federal regulations for LLCs Crystal Lake pedestrian accident lawyer agent rent to own real estate contracts brain injury Illinois wrongful termination lawyer fiduciary rule delay Schaumburg civil litigation attorney Illinois traffic accident lawyer hit and run accident pizza emoji mass shooting distracted driving accident victims trauma after an accident Rolling Meadows probate lawyer Des Plaines real estate attorney Illinois business lawyer Des Plaines drug crimes lawyer civil litigation real estate zoning gift tax exemption, estate planning, estate planning strategies, Illinois estate planning, South Barrington estate planning attorneys Rolling Meadows traffic attorney employment attorney Palatine construction attorney unpaid overtime Buffalo Grove law firm Kenilworth estate planning attorney Attorney Ken Apicella operating agreements Deer Park employment law attorney living trust Arlington Heights Attorney workers compensation benefits Kenilworth estate planning lawyer healthcare claims Chicago insurance law firm cell phone Schaumburg traffic lawyer caregiver probate claims Palatine civil attorney Barrington employment law attorney commercial real estate Inverness injury lawyer crossover accidents subcontractor Barrington estate planning attorney Des Plaines construction contracts Palatine injury attorney Buffalo Grove life insurance attorney consent to a search real estate leasing probate fees motorcycle accident lawyer Crystal Lake business law attorneys distracted driving accidents Arlington Heights trucking lawyer Illinois employee rights attorney. life insurance claims Illinois registered agent Schaumburg employment law attorneys medical research new real estate form Illinois wills and trusts attorneys residential real estate Des Plaines DUI attorney trusts insurance claim delay Illinois traffic attorneys Illinois medical malpractice lawyers Rolling Meadows Illinois real estate Mount Prospect elder law attorney Inverness corporate attorney college kids Schaumburg insurance lawyers Illinois employment attorneys Buffalo Grove personal injury attorney estate planning personal injury attorney Schaumburg real estate lawyer Illinois personal injury attorney Deer Park personal injury lawyer DMV bicycle accidents Illinois pet lawyer Illinois Workers’ Compensation Commission liens beneficiary complications Inverness DUI lawyer personal injury claims construction accidents icy parking lots personal injury Illinois traffic ticket lawyer Buffalo Grove traffic lawyers Des Plaines real estate lawyer spinal cord injury Crystal Lake traffic lawyer vacation home Palatine corporate attorney TBI financial advisors cause-of-death exclusions Landlord Tenant Ordinance Long Grove real estate attorney Illinois LLC creation Illinois Human Rights Act Rolling Meadows estate planning attorney GM ignition switches food poisoning comparative negligence POA Arlington Heights pedestrian accidents medical marijuana Inverness real estate attorney digital media accounts, estate planning, Arlington Heights estate planning attorney, Palatine employment attorney license suspension insurance disputes Palatine civil litigation lawyer health insurance dispute workers comp taxes South Barrington real estate lawyer life insurance lawyer low-ball insurance settlement IRELA overtime pay Crystal Lake employment attorney car accidents Des Plaines motorcycle accident attorney involuntary manslaughter Buffalo Grove criminal defense lawyer Affordable Care Act wrongful termination, employment law, whistleblower protections, Illinois employment laws, discrimination in the workplace Rolling Meadows personal injury attorney slip and fall Arlington Heights tax lawyer Illinois insurance claims lawyers Barrington medical malpractice lawyers Fourth of July Des Plaines tax law firm Rolling Meadows insurance attorney Illinois employment law car accident lawyer Schaumburg personal injury lawyers bad faith insurance claims underfunded trust Illinois estate planning law firm murder liability claims boating under the influence dealing with problem employees estate planning lawyer Whistleblower Claims estate planning attorney Chicago trucking accident attorney insurance claim denial employee rights Policy Cancellation Illinois workers compensation attorney Arlington Heights accident attorney Illinois Sales Representative Act School Visitation Rights Act Illinois red light cameras Illinois motorcycle accident lawyer healthcare Colin Gilbert Crystal Lake pet attorney Rolling Meadows personal injury lawyer Barrington estate planning lawyer Illinois estate planning traffic laws sole proprietorship Long Grove real estate lawyer IRA benefits Barrington attorney Palatine employment lawyer social media after death insurance claim drunk driving Rolling Meadows personal injury lawyers Schaumburg drug defense lawyer Illinois defective products attorney Crystal Lake medical malpractice lawyer civil litigation attorney Illinois elder law attorney Barrington criminal lawyer Illinois insurance dispute lawyers job lawyers texting and driving Rolling Meadows real estate attorney spinal cord injuries DGAA liability Chicago insurance claim attorneys breach of contract mortgage anesthesia errors probate process insurance claim dispute attorney unpaid assessment Rolling Meadows criminal attorney Long Grove estate planning attorney Kenilworth estate planning attorneys products liability Illinois attorney Chicago car accident lawyer construction accidents, personal injury, wrongful death, Arlington Heights personal injury attorneys, workers' compensation denied insurance claims Rolling Meadows insurance dispute lawyers Home Remodeling Repair Act Inverness personal injury attorney loss of consortium Illinois employment law attorneys Rolling Meadows employment law attorneys Illinois home inspection hands free device denial of life insurance BUI estate planning, death tax, succession plans, business estate plans, Barrington estate planning lawyers traffic offenses Illinois living will Barrington Illinois estate planning lawyer appealing an insurance claim Rolling Meadows tax attorney Illinois construction accident attorney most common reasons for life insurance claim denials Inverness elder law lawyer Rolling Meadows business lawyer Long Grove estate planning Rolling Meadows traffic law firm drug crime unauthorized overtime Arlington Heights TBI attorney Super Mario Barrington employment attorney Deer Park accident attorney Buffalo Grove corporate attorney real estate contract federal crimes Des Plaines personal injury attorney wrongful death estate planning, digital assets, Revised Uniform Fiduciary Access to Digital Assets Act, Illinois digital assets, Illinois estate planning, BAIID unfunded trust Schaumburg natural gas license reinstatement back injuries Mount Prospect wills and trusts lawyers Illinois will lawyer Arlington Heights employment law attorneys power of attorney Schaumburg construction accident lawyer Illinois wills and trusts Detainer Actions Illinois insurance claim dispute lawyer traumatic brain injuries Palatine business attorney commercial leasing Illinois estate planning attorney insurance attorney Barrington litigation attorney speeding Home Sale Contingencies Buffalo Grove medical malpractice lawyers guardianship attorney CAM DUI Illinois DUI attorney sexual harassment Arlington Heights injury attorney Barrington employment law firm special needs trust startup company underage DUI Illinois workplace discrimination attorney Schaumburg elder law lawyer paid sick leave life insurance policy slip and fall accidents hiring employees Buffalo Grove real estate attorney drugs Schaumburg corporate attorney Arlington Heights personal injury lawyer criminal record Barrington civil litigation attorney Legal Info Illinois traffic laws real estate closing breathalyzer test Illinois collections attorney right to work problem employees condo association surgical mistakes Arlington Heights traffic attorney Des Plaines civil attorney personal injury claim business litigation Crystal Lake accident attorney Schaumburg medical malpractice lawyer Rolling Meadows drug defense attorney owner responsibility digital assets, digital fiduciary, estate planning, digital content, Long Grove estate planning lawyers Rolling Meadows litigation lawyer home inspection lawyer Palatine punch death Transfer on Death Instrument homestead rights medical malpractice claims Rolling Meadows insurance dispute lawyers, insurance dispute gift taxes elder abuse drunk driving statistics Inverness probate lawyer Schaumburg employment attorney Illinois law Barrington Traffic Lawyer Illinois criminal defense Illinois medical malpractice attorney small business DNR insurance denial appeals medical malpractice jet ski accidents Liquor Control Act criminal real estate attorneys Palatine workers compensation lawyer creditors deed transfer installment contracts Illinois medical malpractice case real estate Inverness insurance attorney Inverness estate planning lawyer Illinois Transfer on Death Instrument Federal Food Drug and Cosmetic Act FMLA Illinois employment law firm dog bites Barrington drug crime attorney Schaumburg wrongful death attorney Crystal Lake will lawyer drug crimes Schaumburg Attorney uninsured motorist Palatine trusts lawyer Schaumburg criminal attorney Arlington Heights personal injury attorney Schaumburg car accident attorney pedestrian accidents Crystal Lake bike accident lawyer revenge porn Arlington Heights employment attorney llinois Real Estate Lawyers Association modern family estate planning Crystal Lake employment law attorney car crash injuries texting while driving pet bites Illinois car accident attorney Rolling Meadows employment attorney Long Grove estate planning attorneys rollover car crashes Palatine insurance lawyer Crystal Lake car accident attorney DUI penalities boating DUI Crystal Lake law firm Barrington personal injury attorney Illinois Wage Payment and Collection Act Illinois trucking safety car accident lawyers Deer Park medical malpractice attorney Crystal Lake personal injury attorney living wills Des Plaines pet law attorney Forcible Entry Des Plaines injury law firm Schaumburg estate planning attorney Illinois criminal defense attorney denial of insurance claim Chicago biking tips ACA top life insurance claim denials Rolling Meadows employment law attorney compensatory time Arlington Heights estate planning attorney employment contract, employment law, employment at-will, Deer Park employment law attorneys, contract, civil rights violation pedestrian accident golf accidents Arlington Heights insurance attorney advance healthcare directive income distribution deducation Barrington personal injury lawyer Illinois employment lawyer Inverness accident lawyer digital information rollover accidents blended families Exclusions Rolling Meadows car accident lawyers Inverness real estate lawyer bike accident cell phone accidents Rolling Meadows DUI lawyer attorney fees traffic violations defense personal injury law firm employment law, meal breaks, rest breaks, hotel employees, Des Plaines employment law attorneys Palatine Attorney Deer Park DUI lawyer pregnant women Illinois tax attorney changes to mortgage law employee discrimination trustee Crystal Lake personal injury lawyer trucking accidents probate claims process filing a medical malpractice claim Illinois injury lawyer denied insurance claim IRA trust transfer Arlington Heights wills and trusts attorney Arlington Heights car crash attorneys Chicago lawyer Illinois medical malpractice claim Mount Prospect real estate lawyer Family Medical Leave Act drug crimes lawyer defective products workers compensation Illinois civil litigation lawyer pedestrian-automobile accident Joliet general practice lawyers ken apicella Illinois personal injury fiduciary rule Chicago will attorney, social media platforms, Illinois estate planning lawyer, natural gas explosion Crystal Lake medical malpractice attorneys Crystal lake insurance dispute attorney Des Plaines accident attorney Barrington real estate lawyer Arlington Heights wills and trusts attorneys bicycle dooring accidents Rolling Meadows Attorney Deer Park workers compensation lawyer Rolling Meadows marijuana attorney Barrington life insurance lawyer medication errors Buffalo Grove car accident lawyer Illinois trusts attorney BAC Riverwoods estate planning lawyer insurance denials disability benefits pedestrian injuries, pedestrian fatality traffic accidents fault based insurance Crystal Lake civil litigation lawyer comp time Rolling Meadows accident lawyer truck collisions Chicago estate planning lawyer Employment Discrimination Law meal breaks Chicago employment attorney whistleblower protections real estate lawyer Rolling Meadows boating crash lawyer expungement in terrorem provision criminal law accidental death benefits Barrington business law firm senior citizens Illinois workplace lawyer medical malpractice compensation Mt Prospect Attorney license revocation estate tax power of attorney for healthcare medical malpractice, missed diagnosis, delayed diagnosis, medical mistake, Deer Creek medical malpractice lawyers Des Plaines claims law firm Jay Andrew Rolling Meadows corporate lawyer IRS Crystal Lake medical malpractice law firm traffic crimes Illinois rollover accident lawyers Illinois insurance claim dispute lawyers elder law Illinois speeding lawyer commercial leases blood alcohol content premises liability privacy laws Deer Park real estate law firm Des Plaines medical malpractice attorney Illinois mortgages Chicago attorney Crystal Lake criminal defense attorney life insurance claim denial, denial of life insurance claim investment property Palatine drug lawyer ObamaCare head on collisions Des Plaines insurance attorney suspended license preventable medical errors Buffalo Grove insurance claim dispute lawyers reckless homicide traffic tickets Rolling Meadows insurance lawyer Do Not Resuscitate Rolling Meadows life insurance claim denial attorney Palatine life insurance lawyer Arlington Heights criminal lawyer Buffalo Grove traffic attorney Inverness civil lawyer insurance adjusters Self-Directed IRA Accounts murder charges Deer Park traffic accident attorney estate attorney manufacturing Illinois probate lawyer Des Plaines personal injury lawyer Des Plaines drug lawyer Schaumburg estate attorney contracts estate planning trusts Illinois pedestrian accident attorney probate child safety Illinois boating accident lawyer FSLA Buffalo Grove probate lawyer Crystal Lake injury attorney digital assets workplace sexual harassment South Barrington real estate attorney traffic violations Illinois business law atorneys Arlington Heights medical malpractice lawyer how to avoid common denials of life insurance claims Crystal Lake estate planning lawyer Illinois jet ski accident lawyer Schaumburg personal injury attorney institutional trustee clemency Illinois employment laws preventing accidents Chicago life insurance attorney traffic deaths Schaumburg life insurance attorney Barrington injury attorney trucking accident lawyers Illinois bicycle safety Illinois insurance lawyer Palatine law firm pet law nursing home negligence auto accidents Schaumburg estate planning lawyer car accident insurance dispute, insurance dispute lawyers, insurance claim denial, insurance claim delays, Rolling Meadows insurance dispute attorneys Palatine employment law lawyer Deer Park motorcycle accident lawyer coronavirus jet ski dram shop law Illinois job attorney living trust benefits irrevocable trust DUI defense dynasty trusts insurance agents pain and suffering landlord tenant law Buffalo Grove injury lawyer real estate attorney Food and Drug Administration's Food Safety Modernization Act Chicago corporate attorney Schaumburg injury lawyer Arlington Heights wills and trusts lawyer employees underinsured motorist overtime violations personal injury, auto accident injuries, delayed injuries, serious injuries, Des Plaines personal injury attorneys Arlington Heights lawyer insufficient documentation Arlington Heights wills and trusts lawyers swimming pools insurance claim denials Illinois corporate lawyer forming a corporation in Illinois controlled substance pay when paid contract material misrepresentation minimum wage Crystal Lake traffic attorney employee misclassification Palatine probate lawyer marijuana crimes attorney deadly crashes Illinois small business foreclosure field sobriety test work unions Barrington criminal defense lawyer Fair Labor Standards Act Illinois traffic attorney life insurance Crystal Lake employment lawyer privacy Illinois real estate lawyer insurance dispute attorney Barrington workers compensation attorney Des Plaines collections attorney wills trench injuries Illinois insurance claim attorney Buffalo Grove personal injury lawyer murder defense Deer Park criminal attorney car collision Chicago traffic lawyer Chicago estate planning Des Plaines personal injury lawyers Illinois personal injury lawyer Des Plaines criminal attorney Crystal Lake insurance lawyer Crystal Lake car accident lawyer DUI attorney LLCs car crash automated cars traumatic brain injury Schaumburg personal injury lawyer cell phone tower data Rolling Meadows Traffic Lawyer Barrington boating accident attorney wrongful termination estate planning for college students severance agreements landlord employment contract trust payments drug possession Des Plaines Traffic Lawyer Illinois workers compensation lawyer capital gains tax license Schaumburg probate attorney insurance negligence Rolling Meadows criminal lawyer Arlington Heights car accident lawyer probate lawyer Illinois insurance attorney Illinois Probate Act of 1975 insurance agent negligence

Archive