A recent amendment to Illinois’ Virtual Representation Statute goes into effect January 1, 2015. The amendment clarifies the types of disputes and trust modifications that can be resolved and made without the need for court involvement. In addition to creating a list of settlement agreements that can be made without court proceedings, the amendments remove the prior limitation that the agreements had to be ones that would be court approved if brought in judicial proceedings.
See, Amendments to Virtual Representation Statute Take Effect on January 1, 2015, McDermott Will & Emery, Nov. 11, 2014.