Tax Apportionment and Illinois Law

Attorney, CPA, and CFO with Frye Louis Capital Management in Chicago, David A. Berek has recently published an article entitled Taxes, Marital QTIP Trusts, and Anti-Apportionment Clauses, 93 Ill. B.J. 418 (2005).

This article warns practitioners, especially those practicing in Illinois, that “[i]t’s time to revisit the language you’ve been using in QTIP trusts to shift the tax burden to residual beneficiaries.”