Rita E. Luce
Partner | Chicago, IL
Rita has focused her legal career on estate planning and estate administration, representing clients across the U.S. and internationally.
Rita Luce has focused her entire legal career on estate planning and estate administration, representing clients across the U.S. and internationally while publishing scholarly works along the way.
Rita has over 25 years of in-depth experience providing counsel on all aspects of estate planning, including estate planning with retirement benefits, gift and estate tax reduction strategies, irrevocable trust reformation, family business succession, business entity organization, asset control and creditor protection planning, special needs trusts, estate and trust administration, and post-death distribution of retirement benefits. Additionally, Rita has expertise with SECURE Act requirements including those for trusts as beneficiaries of retirement plans/accounts.
Understanding that every client benefits from a well-crafted estate plan, Rita advises family business owners, employers doctors, lawyers, executives, brokers, employees, beneficiaries, and fiduciaries.
Rita enjoys addressing clients' estate planning needs and implementing estate and gift tax minimization strategies. Clients often tell Rita that she explains complex principles in understandable terms and that it is easy to work with her.
Rita has given numerous presentations to lawyers, financial 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.
Capabilities
Estate Planning
Estate & Trust Administration
Estate & Trust Litigation
Family Business Advice
Non-Profit Organizations
Charitable Planned Giving
Tax Planning
Speeches & Publications
“Qualified Retirement Plans and Individual Retirement Accounts,” Post-Mortem Planning Guidebook (Illinois Institute for Continuing Legal Education, 2020)
“Required Minimum Distribution 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)
“Postmortem Planning for Retirement Benefits,” Retirement Benefits Issues in Estate Planning Guidebook, (Illinois Institute for Continuing Legal Education, 2012)
“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)
Robert A. Napier and Rita E. Luce, “Cookie Jars and Charitable Remainder Trusts – Built to be Broken Into?,” Taxation of Exempts magazine (September/October 2005)
Representative Matters
Drafted Wills and Revocable Trusts for individuals, partners, and married couples.
Created IRA/401k see-through trusts to ensure distribution of retirement assets as clients intended.
Successfully defended Florida estate against domicile challenge by Illinois Attorney General.
Utilized GRATs to move appreciation on various assets to trusts for clients’ children while minimizing use of clients’ gift tax exemptions.
Established LLCs for family businesses and investment portfolios, then gifted and/or sold interests in LLCs to trusts for clients’ children, resulting in significant gift and estate tax savings.
Created multiple trust vehicles to utilize clients’ current federal gift tax exemptions and minimize future federal estate taxes.
Admissions
IllinoisEducation
Chicago-Kent College of Law, J.D., with honors
Michigan State University, B.S.
Awards & Honors
Leading Lawyers Network (2013-present)
Bar Register of Preeminent Women Lawyers (top 5%)
AV Preeminent®, Martindale-Hubbell Peer Review Ratings
Organizations
Chicago Bar Association
American Bar Association
Related News & Insights
Retirement Fund Beneficiary Forms Can Be Tricky
