Navigate through Trust Administration
After a loved one passes on, it can be hard to balance the act of taking care of your own grieving process while also overseeing the decedent’s trust and its needs. Handling the obligations of your loved one’s trust is difficult when you are trying to take care of things by yourself, so get the help you need from a skilled Illinois attorney.
At North Shore Estate Planning, we provide our clients with the compassionate and committed representation they need to get through the challenges surrounding their loss. We act swiftly to settle matters with as little complication or time as necessary.
What We Do for Our Clients
There is a specific code that you must follow in Illinois to administer a trust. If you are not careful, you could be sued for noncompliance in the process. By avoiding costly lawsuits from poor trust administration, clients save money by relying on our services.
We act on your behalf to uphold the duties that a trustee must not infringe upon during trust administration, including the duty of:
- Prudence: To perform the duties in the most cost-efficient and effective manner
- Impartiality: To show no favor among any beneficiaries
- Loyalty: To maintain the utmost dedication to the beneficiaries and put the needs of the beneficiaries before their own
- Nondelegation: To not accept outside counsel or delegation from outside sources
Our experience in trust administration can eliminate the difficulties surrounding the administration process and save you time, money and energy.
Navigating Common Trust Administration Challenges
Trust administration can be complex, and questions or concerns may arise during the process. Some common issues include:
- Multiple wills and trusts: Conflicting instructions from different documents can create confusion and arguments.
- Trust disputes among beneficiaries: Disagreements over asset distribution or trust terms can lead to legal battles and strained relationships.
- Fraud: Instances of fraud, such as forged documents or unauthorized changes to the trust, can undermine the trust’s integrity.
- Allegations of mismanagement: Beneficiaries may accuse the trustee of mismanaging assets, which can lead to legal challenges and the potential removal of the trustee.
- Ambiguous trust terms: Vague or unclear language in the trust document can result in differing interpretations and disputes.
Working with experienced trust lawyers can help you overcome these challenges and protect the interests of all parties involved.
Let Us Handle the Hard Part
If you are facing the challenges surrounding trust administration, you do not have to go through things alone. Let us help you secure the swift and accurate outcome you deserve in your trust administration. Call our Highland Park office at 847-464-9825 or email us here to schedule your initial consultation today.