Helping You Make Sense of Complex Chicago Trustee Duties
A trust is an estate planning vehicle that allows you to designate property for beneficiaries to be distributed at a later date. The formation of a trust can allow your heirs to avoid the probate process and mitigate estate taxes. In addition, the final distribution to beneficiaries typically happens much more quickly than property distributed through a will.
The trustee is the person who has the responsibility to carry out the terms of the trust according to the grantor's wishes. Unlike probate, trust administration happens without court supervision, so the trustee has little guidance with regard to his or her duties or how they should be carried out. At the law firm of Molohon, Sandquist & James, LLP, our Palatine trust administration lawyers represent trustees throughout the Chicagoland area.
Skilled Representation for Your Trust Administration Matter
Our attorneys have extensive experience in all areas of trust administration. We will walk you through the entire process and work to resolve any disputes as efficiently as possible. We understand that some trustees have never dealt with the legal issues involved with administering a trust and how overwhelming it can become. You can count on us to be there with you at every step and to see your case through to its conclusion.
We can help you with any aspect of trust administration, including:
- Investing or managing assets held in trust
- Inventory and valuation of assets
- Notifying all known and reasonably ascertainable creditors of the trust
- Paying the debts of the trust
- Trust litigation in the event of any challenges or disputes
- Distributing assets to heirs according to the terms of the trust
- Preparing income and estate tax returns, if necessary
Discuss Your Case With a Lawyer
Contact our office to learn more about our trust administration services and how we can help you. Our office is conveniently located in the Harris Bank Building on Northwest Highway just west of Route 53 in Palatine, Illinois. We are only 30 minutes from downtown Chicago and offer free parking. You can reach us by phone at 847-241-4460, toll free at 888-674-1211 or via e-mail.
