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Not in Illinois. Some other states may have different requirements, but one of the principal advantages of a living trust is privacy. Unlike a Will, which must be made public record after you die, a trust remains private and is not filed or recorded.

Illinois law does not require a trust to be notarized and it is valid without a notary. In addition, there is a provision in the Trusts and Trustees Act allowing a Certification of Trust to be accepted by financial institutions in place of the full trust document.

If you've created a trust, this might mean filling out a trust amendment form. A trust amendment form is one of a few ways you can update your trust document. This form allows you to make specific changes that won't affect your trust as a whole, such as adding a beneficiary or editing a certain provision.

To transfer real property into your Trust, a new deed reflecting the name of the Trust must be executed, notarized and recorded with the County Recorder in the County where the property is located. Care must be taken that the exact legal description in the existing deed appears on the new deed.

A legal Trust is an entity that has been created through a Certificate of Trust or Trust Agreement, properly funded with assets, and registered with the appropriate office in the state it is incorporated. Legal Trusts are sometimes referred to as valid Trusts.

Sec. 105. Default and mandatory rules. (a) The trust instrument may specify the rights, powers, duties, limitations, and immunities applicable to the trustee, beneficiary, and others and those terms, if not otherwise contrary to law, shall control, except to the extent specifically provided otherwise in this Section.

The two main rights that beneficiaries have are the right to information and the right to distributions. Beneficiaries have the right to receive certain information about the trust. The trustee needs to provide beneficiaries with an annual accounting describing payments and income of the trust.

11 Consultation with beneficiaries. (b)so far as consistent with the general interest of the trust, give effect to the wishes of those beneficiaries, or (in case of dispute) of the majority (ing to the value of their combined interests).

Sec. 603. Settlor's powers; powers of withdrawal. (a) To the extent a trust is revocable by a settlor, and the settlor personally has capacity to revoke the trust, a trustee may follow a direction of the settlor that is contrary to the terms of the trust.