Legal Question in Wills and Trusts in Illinois

I am the beneficiary of a trust fund with spendthrift claus. i live in cook county illinois. the trust document states that i am to receive all income from the trust at least quarterly. Also by law and stated in the document i should receive a trustees report annually. in the past 18 months the trustee (my sister) has refused to give me income in the form of a check but rather insists on paying bills for me. also, the trust fund includes a home which is currently being rented out due to inability to sell. does the monthly rent constitute trust income? last, i recently found out that a 300,000 dollar mortgage has been taken out on this home. should i be entitled to half of this money either in hand or into my trust. the estate was to be split in half between the two of us. must i take my sister to court to receive my benefits and get a trustees report or is there something else i can do first?


Asked on 1/27/12, 1:33 pm

1 Answer from Attorneys
Steve Raminiak Law Offices of Steve Raminiak, P.C.

The monthly rent almost certainly constitutes Trust income. The Trust probably allows your sister to take out a mortgage on the home and use the funds loaned to the Trust for the benefit of all of the beneficiaries of the Trust (and not just herself). However, if you are not receiving an annual Account of all of her actions, you should be worried.

I strongly advise you to review your situation with an attorney. Ultimately, you may not have to take your sister to Court. However, it seems clear that she will probably blow you off unless you show her that you are serious. The best way to do so is to ask an attorney to speak to her (or her attorney) on your behalf. Feel free to call me for a free consultation.

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Answered on 1/27/12, 1:42 pm


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