PLEASE NOTE: To protect your safety in response to the threats of COVID-19, we are offering our clients the ability to meet with us via telephone or through video conferencing. Please call our office to discuss your options. Learn More
Open: Menu Lesser Lutrey Pasquesi & Howe, LLP
Call Now to Begin a Consultation
Open: Practice Areas

Funding trusts is a high priority

When an Illinois resident executes an estate plan, a number of topics are usually addressed. Wills and trusts are basic components of many estate plans. There are various types of both kinds of documents, and determining which options will best help an estate owner accomplish his or her goals can be challenging. Especially when it comes to funding trusts, it can be helpful to seek experienced counsel.

A revocable trust is often referred to as a living trust. This type of trust not only helps keep an estate out of lengthy probate proceedings, but it also allows the estate owner retain control of trust property while he or she is still living. This is because the estate owner can name him or herself as trustee.          

Such trusts are called revocable because they can be changed or extinguished at any time during a grantor's life. A grantor that has appointed him or herself as trustee may continue to treat trust assets as personal property, including selling, trading or gifting them. A grantor may wish to learn more about the possible tax implications a particular set of transactions may have.

When funding trusts with real estate, a property deed must be included. When properly funded, the grantor/trustee is able to manage the trust for his or her own benefit and for future beneficiaries as well. An attorney with experience in Illinois law concerning wills and trusts can provide counsel to any person seeking guidance regarding proper funding of trusts or other estate issues.

No Comments

Leave a comment
Comment Information

How Can I Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy


Lesser Lutrey Pasquesi & Howe, LLP
191 E. Deerpath Suite 300
Lake Forest, IL 60045

Phone: 847-295-8800
Fax: 847-295-8886
Lake Forest Law Office Map

Chicago Office
161 N. Clark Street
Suite 1600
Chicago, IL 60601

Phone: 847-295-8800
Fax: 312-523-2001
Chicago Law Office Map

  • Facebook
  • Linked In
  • Twitter