ATTORNEY profiles

John P.C. Duncan
Principal

John Duncan founded the Chicago law firm Duncan Associates Attorneys and Counselors, P.C. in 2000 to concentrate on the representation of private, boutique, and traditional trust companies, family offices, and other wealth management organizations.  His expertise includes designing and implementing trans-generational governance and succession structures and family office risk-management programs.

Over the past 20 years, he has advised more than 130 ultra-wealthy families and collaborated with clients’ tax and trust counsel to help form more than half of the regulated Private Trust Companies chartered in the United States during that period.  In 2009, he founded the PTC Association, LLC, an association of private trust companies.

John drafted a model trust company act that has been adopted in nearly half of the states.  The firm served as principal counsel for the drafting of New Hampshire’s new trust and trust company statutes in 2007 and 2008, establishing it as a very attractive state for trusts and private trust companies.  The amendments included immunity for trustees from certain asset concentration decisions, authority to create dynasty purpose trusts, and the most detailed provisions in the nation addressing the relationships among trustees and other trust participants, such as co-trustees, trust advisors and trust protectors.  Most recently, Duncan Associates served as principal draftsmen of similar trust company legislation enacted in Nevada that became effective October 1, 2009.

John is a graduate of Yale University (B.A. cum laude 1971) and The University of Chicago Law School (J.D. 1974).  Prior to forming Duncan Associates, John headed the banking and investment practice of the international law firm Jones Day.  He is a member of the Collaboration for Flourishing Families (Chairman, Strategic Planning Committee), the Banking Law Committee of the American Bar Association (Co‑chairman, ABA Financial Privacy Task Force, 1998–2001; Chairman, Securities Activities of Banks Subcommittee, 1995–98) and past chairman of the Financial Institutions Committee of the Chicago Bar Association (1985–86). 

A list of Mr. Duncan's recent presentations and articles on wealth management may be found on the Publications & Presentations page.

Heather A. Wallack
Staff Attorney

Heather A. Wallack joined Duncan Associates in October 2006.  Heather focuses on the formation and start-up of private and other wealth management trust companies.  Prior to joining the firm, Heather was a law clerk at Horwood Marcus & Berk Chartered, where she assisted with various taxation, estate planning, corporate and litigation matters.

Heather is a graduate of DePaul University College of Law (J.D. 2005) and Indiana University (B.A. 1994), where she was a member of Phi Beta Kappa.  While attending DePaul University College of Law, she obtained a Certificate in Intellectual Property:  Arts and Museum Law, served as the Lead Articles Solicitor of the DePaul-LCA Journal of Art & Entertainment Law, and was a CALI Award Recipient for Senior Research Seminar:  Cultural Property.  She is admitted to practice law in the State of Illinois.