Education & Events

Introduction to Illinois Land Trusts and Administration
Thursday, September 25, 2025 - 9:00 a.m. to 1:00 p.m. CT
IBA Center for Banking Excellence, Springfield, or Live Streamed

This class will provide an overview of this unique legal instrument, which is exclusive to Illinois. We will explore the history, uses, and administration of land trusts. We will also cover the benefits of using a land trust, such as privacy and estate planning, as well as potential drawbacks and costs associated with them. In addition, we will examine some of the basic legal instruments involved in establishing and administering a land trust, including trustee duties and beneficiary responsibilities.

Presenter
Penelope Johns Thompsen has 45 years of trust and banking experience in Grantor trusts, Probate Administration, Special Needs Trusts, and all other Trust Administration, as well as IRAs, IRS 1031 Exchanges, Illinois Land Trusts, and retail bank management.  Penny currently works as vice president and trust officer for Wintrust Private Trust Co. N.A. She has experience with many non-profit organizations and boards. Penny is the past president of the Land Trust Council of Illinois, past President of the Rotary Club of Crystal Lake Dawnbreakers, and past President of the American Heart Association of McHenry County.  She also served on the board of directors for The Raue Theater of Crystal Lake and the Crystal Lake Chamber of Commerce and was a Big Sister with the Big Brothers and Big Sisters of McHenry County. Penny is a finance professional with a master's degree in business administration leadership from National Louis University, Evanston, Illinois, as well as a College for Financial Planning certification designation of Financial Para Planner Qualified Professional. Penny served as an instructor for the Illinois Bankers Association for over 20 years, teaching seminars in beginning and advanced land trust administration, IRA 1031 exchange administration, and business etiquette.

Continuing Education
Under Review

Per Person Fee
IBA Member $265
Nonmember $445