Wednesday, September 3, 2014
Illinois has passed a new law that creates enhanced protection against elder financial abuse by non-family member caregivers. The new law creates a presumption in favor of voiding a transfer of property that is through a transfer instrument, such as a will, if the transfer is over $20,000. The law applies to transfers that are to someone defined by the statute as a “caregiver,” which excludes family members. The law will affect challenged transfers that are made through a transfer instrument that is executed on or after Jan. 1, 2015.
See Jeffrey R. Gottlieb, New Illinois Law Questions Bequests to Non-Family Caregivers, Illinois Estate Plan, Sept. 2, 2014.