Legal Question in Wills and Trusts in Illinois

What do you mean by a "party"? As long as there is a trustee, trust property and 1 beneficiary, the trust should carry on. In fact, unless there is no more trust property and/or no more beneficiaries, most trusts can't be broken. Have an attorney review the trust document and the current status of trustee, property and beneficiaries.

If you are referring to a joint trust, then the surviving grantor should have the trust reviewed to make sure that the trust still meets the survivor's expectations. Also, the document most likely limits the changes that can be made by the survivor. There may also be funding issues that need to be addressed after the death of one of the grantors.