Legal Question in Wills and Trusts in Illinois

living trust

I am co-trustee with my mother on her revoc. living trust. My mother wants me to have final say so over selling her land or whatever needs doing. My 3 siblings do not help care for her or even help care for her or visit or call. I do everything for her. She now does not like the way my siblings lifestyles are and has mentioned cutting them out of her will. Is there a specific time limit on when trusts have to be disolved or can I give them payouts over several years and keep the trust going since I am co-trustee with her. She does not want her money spent on drinking, smoking and such. Does she need to specify this? She wants to make sure that they pay debts with this money as they are lax on doing so. How much control do I really have over this matter. The will within the trust says that it will be devided equally. Do we need to make changes to give me more control, such as payouts over several years?

Thanks so much for your help

Teresa


Asked on 7/08/07, 7:48 pm

1 Answer from Attorneys
Cyndi Perez Trostin

Re: living trust

The terms of the trust are like a contract. You, as co-trustee, can only do whatever the trust says you can do. Therefore, if the trust says you must distribute funds to your siblings at certains time, without any discretion to hold back funds, or without the ability to only make payments for certain things, then your mother must change the terms of the trust to accomplish these results.

Your mother will need to communicate her wishes to an attorney who can then draft an amendment to the trust. With an estate planning attorney involved, the changes can easily be made.

Good luck to you.

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Answered on 7/08/07, 11:51 pm


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