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In the News – How To Ruin Your Estate Plan By Signing A Stupid ‘Standard’ Form

Published 2/1/2019

So, you’re ahead of the ball game and have already begun to think about establishing your estate plan. However, in the process of preparing your estate plan, how do you ensure that you are making the best decisions for you and your family? Beware or Standard forms. In this Forbes article by retirement expert Martin Shenkman, he explains why signing a standard form when making investments could cause potential issues when disbursing your assets in the future.

In his article, Shenkman gives the example of buying a co-operative apartment and including it in your revocable trust. Upon purchase, the apartment manager expects you to sign a standard form that greatly reduces the control that you have over this real estate asset in your trust. Signing this form would give the manager greater control over these assets than your trust and require permissions to be approved before changing the trust’s amendments. Instead of signing that standard form, request that your real estate assets have their own legal amendments from which terms you can agree to and will not detract from your estate plan.

Pankau Law in Itasca, Illinois has years of experience negotiating real estate contracts and establishing estate plans for our clients in the Chicago suburbs. If you are ready to invest in real estate and include it as part of your assets in a trust, you need the help of a qualified estate planning lawyer. Contact us today to see how we can help you through this tricky process and ensure that your estate is protected.


This content of this blog is intended for informational purposes only. It is not intended to solicit business or to provide legal advice. Laws differ by jurisdiction, and the information on this blog may not apply to every reader. You should not take, or refrain from taking, any legal action based upon the information contained on this blog without first seeking professional counsel.

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