Legal Question in Wills and Trusts in Illinois

trusts

my mother recently put some stocks in a trust. she needs money now, can she sell some of her stock? how can she do it?


Asked on 5/11/09, 1:16 pm

2 Answers from Attorneys
Michele Cusack Pollak & Cusack

Re: trusts

If your mother's trust is a revocable living trust, and she is the trustee, she has the same power to buy, sell and change assets as if she held them in her own name as an individual.

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Answered on 5/11/09, 3:47 pm
Gregory Turza Law Offices of Gregory P Turza

Re: trusts

The facts you provided are not sufficient to give an answer. You say she "put" some stock in a trust. Was it a gift? Is she the trustmaker? Is she the Trustee? Is she the beneficiary? Is the trust revocable or irrevocable?

For a free consultation you can find us at www.legacylaws.com.

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Answered on 5/11/09, 5:15 pm


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