Legal Question in Wills and Trusts in Illinois

My parents had a irrevocable living trust. She rec'd her 50% share, mine is supposed to stay in the trust "to protect me from having my estranged spouse from getting my inheritance. My Dad verbally said that "we (sister and I) could work together. I am at a point in my life that I am quitting my second job and would like to be able to have access to this money for paying bills, etc. I have to "go through hoops" to get any response, and at 55-I feel a fool to be "asking permission". She recently received her "trustee fee" of $38,000. That seems a little high to me. She lives in Carol Stream, I live in California. Can I get access to my money and does this fee sound correct? The trust was written in Illinois.


Asked on 7/15/11, 2:37 pm

2 Answers from Attorneys
Jeffrey R. Gottlieb Law Offices of Jeffrey R. Gottlieb, LLC

The fee may be high, although it has to be viewed in a larger context, and without that context, it's impossible to judge whether the amount is reasonable. With respect to the share created for your benefit, again it's hard to advise without knowing the specific terms of the trust. Possibly you can work out an arrangement with the trustee that both follows the terms of the trust and is less burdensome on you.

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Answered on 7/15/11, 2:43 pm
Steve Raminiak Law Offices of Steve Raminiak, P.C.

The fee seems very high. What did she do to earn that fee? In Illinois, Trustees are generally compensated by the hours devoted to administration, not by a percentage of the Trust. You should be particularly concerned about her fee, and how she has justified it.

We may be able to free up your interest, depending upon your family relationships and the beneficiaries mentioned in the Trust. It's worth your time to talk to an Illinois attorney who practices exclusively in this area. I do. Feel free to call me for a free consultation.

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Answered on 7/15/11, 2:44 pm


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