Rita E. Luce, Attorney | Principal
Rita Luce has focused her entire legal career on estate planning and estate and trust administration, representing clients across the U.S. and internationally while publishing some scholarly works along the way.
Rita has over 30 years of in-depth experience providing counsel on all aspects of estate planning and estate and trust administration, including creating estate plans, implementing gift and estate tax reduction strategies, strategizing family business succession, structuring retirement benefit planning, handling reformations of irrevocable trusts, organizing and forming business entities, funding trusts and business organizations, planning for asset control and creditor protection, and handling all aspects of estate and trust administration.
Believing that every client benefits from knowledgeable estate planning advice, Rita represents business owners, employees, executives, professionals, retirees, beneficiaries, and fiduciaries.
Rita enjoys helping clients address their planning needs. Clients often tell Rita that she has a pleasant manner and explains complex principles in understandable terms. Additionally, Rita has given numerous estate planning presentations to lawyers, financials planners, investment advisors, brokers, bar association groups, continuing legal education programs, law school classes, and social clubs. She is nationally recognized as a member of the Leading Lawyers Network.
Speeches & Publications:
“Qualfied Retirement Plans and Individual Retirement Accounts,” Post-Mortem Planning Guidebook (Illinois Institute for Continuing Legal Education, 2020)
“Required Minimum Distributing Rules: Who, What, When and Why,” Retirement Benefits Issues in Estate Planning Guidebook (Illinois Institute for Continuing Legal Education, 2015)
“Postmortem Planning for Retirement Benefits,” Retirement Benefits Issues in Estate Planning Guidebook (Illinois Institute for Continuing Legal Education, 2015)
“Changing an Irrevocable Trust: The Impossible Is Now Possible,” Chicago Daily Law Bulletin (November 10, 2014)
“Retirement Fund Beneficiary Forms Can Be Tricky,” Chicago Daily Law Bulletin (August 15, 2013)
“Postmortem Planning for Retirement Benefits,” Retirement Benefits Issues in Estate
Planning Guidebook (Illinois Institute for Continuing Legal Education, 2012)Robert A. Napier and Rita E. Luce, “Cookie Jars and Charitable Reminder Trusts – Built to be Broken Into?,” Taxation of Exempts magazine (September/October 2005)
Admissions
Illinois
Education
Chicago Kent College of Law, J.D., with honors.
Michigan State University, B.S.
Organizations
Chicago Bar Association
American Bar Association
Awards & Honors
Leading Lawyers Network (2013 – present)
Bar Registration of Preeminent Women Lawyers (top 5%)
AV Preeminent ®, Martindale-Hubbell Peer Review Ratings
Recent Representative Matters
Created IRA/401k see-through trusts with beneficiary designations to ensure distribution of retirement assets as clients intended.
Successfully defended Florida estate against domicile challenge by Illinois Attorney General.
Utilized GRATs to move assets to trusts for clients' children while minimizing use of clients' gift tax exemptions.
Established LLCs to retain and consolidate management of clients' assets and enable gifting of LLC interests at significant gift and estate tax savings.
Created multiple irrevocable trusts to utilize clients' current federal gift tax exemptions and minimize future federal estate taxes.
Drafted Wills and Revocable Trusts for individuals, partners, and married couples.
