Legal Question in Wills and Trusts in Illinois
Setting up a trust
One of the provisions of my half-brother's will was the I as executor am to establish a trust to benefit his mother. A bank representative told me the first step is to open the trust in court. How long does this normally take? Also, can I make a disbursement to the beneficiary prior to the trust being open?
1 Answer from Attorneys
Re: Setting up a trust
There a quite a few issues wrapped up in your seemingly simple question.
I would advise you to have an attorney review the Will/trust to determine what needs to be done.
If there is a trust involved, distributions must be made according to its terms. If you are the executor or trustee, you could be personally liable for any improper distributions.
Paying for an attorney to review your situation will be well worth the investment in the long run.
Good luck to you.