Legal Question in Wills and Trusts in Illinois
Can one of four of the beneficiaries of a trust in Illinois dissolve the trust? My Father passed away and left his house in trust in 4 names and one of the four wants his money NOW and nobody else wants to sell the house in this market. Can he force us to sell?
1 Answer from Attorneys
Can one of four . . . : no unless the trust provides for it on those terms.
Can he force us to sell . . . : you're talking about the possibility of a "partition" action where there is a deadlock but with 4 people the majority may rule. Part of it may depend on who holds power of direction over the trust if a land trust, or who the trustee is if a living/testamentary trust. Take the trust agreement to a lawyer like me who does real estate and related work for review and full assessment of your options.