Pointers for Trustees under the new Illinois Trust Code

01/19/2020

Here's how many key provisions of the Code work & what they mean. Published by the Illinois Bar Journal so lawyers can understand this new law effective January 1, 2020.


by Daniel P. Felix
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Checklist for Trustees under the new Illinois Trust Code

01/19/2020

This detailed checklist covers many key trustee tasks under this law effective January 1, 2020. Published by the Illinois Bar Association Trust & Estate Newsletter for trust attorneys.


by Daniel P. Felix
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Put your Successor Trustee to Work NOW!

01/19/2020

Some people don't understand how much pain, suffering and cost can be avoided by preparing their trustee to be ready to hit the ground running. Here are 12 things you can do NOW!


by Daniel P. Felix
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The High Cost of the Wrong Trustee

01/19/2020

Choosing a trustee who is a bad fit for your trust and family can cost dearly in money, delays and family harmony. Here are 7 different facets many don't understand until it's too late.


by Daniel P. Felix
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Why Your Choice of Trustee is Critical

01/19/2020

A concise outline of the different factors which make choosing your trustee a key to the success of your trust. This is the introduction from Dan's eBook on Choosing Your Trustee.


by Daniel P. Felix
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Trust Essential Beyond Having a Signed Trust Document

01/19/2020

Trust preparedness doesn't end with signing your trust document. Here are three simple guides to help make sure your trust works well when you need it to.


by Daniel P. Felix
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Mission Statement: What I Believe - L'dor v'dor

01/19/2020

Dan's mission: It's about stepping up to the stewardship responsibility of guiding and facilitating the transition from one generation to the next ti achieve the highest service experience.


by Daniel P. Felix
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Mission Statement: What I Believe

01/19/2020

In 7 short paragraphs Dan outlines the philosophy behind his successful approach with trusts, settlors and beneficiaries combining expertise of trusts, law & people.


by Daniel P. Felix
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The Value of the Professional Trustee

01/19/2020

In his Forward to Dan's guide for trustees, family and wealth consultant Peter White details the effectiveness of Dan's trustee approach for trusts and for the families they serve.


by Peter White
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4 Tips for Avoiding Trust Breakdowns

01/19/2020

These four points are direct and simple, though often not easy, requiring some technical and people management skills. Published by the Illinois Bar Association Trust & Estate Newsletter.


by Daniel P. Felix
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6 Pitfalls for your Successor Trustee

01/19/2020

Proactively dealing with these known issues and their negative implications will ensure your successful seamless transition when you want your successor trustee to step in.


by Daniel P. Felix
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Fox interview of Dan for the PGDC on Trustee Candidates

01/19/2020

Insights on trustee selection, including trust companies, family members, & independent professional trustees. Published by the Planned Giving Design Center (free reg. req'd)


by Randy Fox & Daniel P. Felix
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3 Steps to Successful Special Needs Trusts

01/19/2020

Parents wanting a seamless transition for their child's Special Needs Trust should benefit from these pointers on planning, personnel, and patient persistence.


by Daniel P. Felix
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What is a Successful Trust - and for Whom?

01/19/2020

Dan launched his series of articles on Keys to Successful Trust Administration with this inquiry of this new, break-through concept - and what it means for trusts and families.


by Daniel P. Felix
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Winning Trust Administration Heeds Family Dynamics

01/19/2020

Trustees ignore family dynamics risk trust failure; successful trusts tend to family culture and personalities. Second in the original series Keys to Successful Trust Administration.


by Daniel P. Felix
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The Importance of Trustee On-Boarding for Trust Success

01/19/2020

How a trustee is brought in to the trust can make the difference between a successful trust - and a failure. Third in the original series Keys to Successful Trust Administration.


by Daniel P. Felix
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How to Engage Beneficiaries for Trust Success

01/19/2020

Continuing the exploration of what consitutes a successful trust, Dan shares how early collaboration with the beneficiary confirms alignment & avoids problems later.


by Daniel P. Felix
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Charitable Trusts part #1: The Critical Role of the Trustee

01/19/2020

Dan and Randy discuss the the impact of different types of trustees on success for the family as well as the charitable purpose. Published by the Planned Giving Design Center (free reg. req'd)


by Randy Fox & Daniel P. Felix
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Charitable Trusts part #2: trust pointers

01/19/2020

Dan and Randy outline a range of issues, including the value of total return and unitrust approaches for avoiding conflict. Published by the Planned Giving Design Center (free reg. req'd)


by Randy Fox & Daniel P. Felix
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Charitable Trusts part #3: Case Study

01/19/2020

Dan and Randy review a common charitable giving scenario, including trust admin & selection issues. Published by the Planned Giving Design Center (free reg. req'd)


by Randy Fox & Daniel P. Felix
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What Info Should the Trustee Disclose to the Beneficiary?

01/05/2020

Thoughts, issues and questions about balancing transparency with prudence and other compelling considerations. Addressing these is an important key to successful trust administration.


by Daniel P. Felix
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Guiding the Beneficiary to Financial Competence

01/05/2020

Successfully distributing to a beneficiary with imperfect money behaviors starts with understanding, both unblinking and compassionate. The journey is often difficult and indirect.


by Daniel P. Felix
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The Under-Appreciated Successor Trustee

01/05/2020

Engaging with your successor trustee in advance of need is a powerful key to successful trust administration. Consider why this truism is overlooked – to the detriment of all concerned.


by Daniel P. Felix
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Clarity, Conversation, Competence & Compassion

01/05/2020

These qualities are foundational to successful trust administration. The article is a summary of interviews of Dan by Jeff Bechar, principal of ComforCare’s Aging Well in Chicago audio blog.


by Daniel P. Felix
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Black Sheep Come in Different Colors

01/05/2020

How to engage with a family’s black sheep is another key to successful trust administration. Knowing the song of the different drummer as well as of the family will help find the better path.


by Daniel P. Felix
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How to Replace the Trustee who isn't Serving

01/05/2020

Declaring your independence from an ill-fitting trustee is a key to successful administration. Consider the spectrum of possibilities, including those to include in your trust document.


by Daniel P. Felix
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The Tell-Tale Signs of A Troubled Trustee

01/05/2020

Spot the Troubled Trustee by all-too-common problems: work overload, time and complexity overwhelm, and a less than appreciative family. Solutions are available.


by Daniel P. Felix
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The 10-Step Plan to Avoid a Bad Death

01/05/2020

How to make your passing less tragic and expensive. Inspired by the GYST movement, there’s much more to address than a well-planned trust. The second best time to start is now.


by Daniel P. Felix
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How to Collaborate with a Trust Protector

01/05/2020

How can a Trust Protector be engaged to help the family flourish? Summarizes the thoughts from a meeting of the Chicago Trustee Collaboratory with visiting expert John A. Warnick.


by Daniel P. Felix
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Four Trustee Mistakes - and How to Avoid Them

01/05/2020

Trustee mis-steps can cost money, cause delays, undermine trust and create heartache. These are some of the lessons a trustee doesn’t have to learn from painful trial and error.


by Daniel P. Felix
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The many benefits of a Distribution Policy Statement

01/05/2020

The reasons to create and implement a Distribution Policy Statement for a family trust include producing clarity and alignment -- just like its dependent sister, the Investment Policy Statement.


by Daniel P. Felix
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Field Testing Trusts: Part 1: Why Field Test a Trust.

01/05/2020

The benefits of a dry run explained. Michael Welbel, an Insurance broker for trust attorneys, shared the article with his clients, because field testing will reduce their trust failure rate.


by Daniel P. Felix
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Field Testing Trusts: Part 2: How to Field Test a Trust.

01/05/2020

A how-to guide. Michael Welbel, an Insurance broker for trust attorneys, shared the article with his clients, because field testing will reduce their trust failure rate.


by Daniel P. Felix
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Field Test Case Study: Sister Fiduciaries

01/05/2020

A settlor, his successor trustee sisters and advisors role-play through what would happen at his disability and death. The good result: sisters’ roles are re-defined and he modifies his trust.


by Daniel P. Felix
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Advice to the Trustee on Building Trust

01/05/2020

A quick, but deep look at the trustees' toolkit, including best practices. Summarizes a meeting of the Chicago Trustee Collaboratory with experts Gary Shunk and Harold Rice-Erso.


by Daniel P. Felix
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Positive Psychology Helps Trusts Flourish

01/03/2020

Applying the tools of Positive Psychology helps trusts and their families succeed. Learn how the PERMA model produces flourishing and well-being for family trusts.


by Daniel P. Felix
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The Illinois Directed Trust Law Explained

01/03/2020

Published in the Illinois Bar Journal in 2013 to explain to other lawyers what the law means and how it works, the article details the rules on trust protectors, investment & distribution advisors.


by Daniel P. Felix
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Tough Trustee Voyage in "Manchester by the Sea"

01/03/2020

Lessons from this intense movie, published in The International Family Offices Journal. Spoiler: all ends well after an uncle is surprised by his appointment as trustee for his nephew.


by Daniel P. Felix
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Dualities in the Trustscape: Name it to deal with it.

01/03/2020

The lens of "both/and" thinking helps a trustee do better a better job. Learn about this unique perspective and the important tool for navigating these dilemmas embedded in every trust.


by Daniel P. Felix
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Typical Dualities in the Trustscape: LIST

01/03/2020

Dualities live inside every trust. Here is a list of over twenty dualities, along with five different categories. Hint: the dilemma of Settlor intent AND Beneficiary wants is foundational.


by Daniel P. Felix
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3C’s of Successful Family Trust Administration: VIDEO

12/31/2019

A family can enjoy a successful trust by building Clarity, Consensus and Competence. Dan sums up the thought in this 2 minute clip from a meeting of the Chicago Trustee Collaboratory.


by Daniel P. Felix
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Asking the Right Questions for the Right Outcome

12/31/2019

This report from the Chicago Trustee Collaboratory shows how trustees can get better results by asking their questions towards achieving positive outcomes.


by Dan Felix, Sue Rhomberg, Michael Stuart
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Case Study: Spencer case - Part 1

12/31/2019

The beneficiaries get so frustrated with their trustee they sue! Part 1: The court case & legal issues. Spoiler alert: the judge doesn’t give the family beneficiary anything he asked for.


by Daniel P. Felix & Jeffrey Blumenthal
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Case Study: Spencer case - Part 2

12/31/2019

The beneficiaries get so frustrated with their trustee they sue! Part 2: Family and the trust administration issues. Lessons learned: what could the beneficiary, trustee and the settlor done differently.


by Daniel P. Felix & Jeffrey Blumenthal
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eBook: How to Choose your Trustee

12/31/2019

To prevent sinking and to make sure your trust makes it to where you want it to go, you may want to use care to select who captains your trust through these too-often rough waters.


by Daniel P. Felix
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