Legal Question in Wills and Trusts in Illinois
trusts
Is there a time-table for the distribution of a family trust and in what way is the trustee accountable to the heirs named?
Asked on 3/09/06, 8:19 am
1 Answer from Attorneys
Re: trusts
Usually the trust document itself has language that dictates the accounting requirements to the beneficiaries.
As for the time-table, it is dependent on quite a few factors: whether there is a probate estate, what types of assets are in the trust, whether there are any claims or litigation matters, etc.
In order to determine your rights under any trust, you should have an estate planning attorney review it for you. Only such a person will be able to give you the answers to the specific questions you have.
Good luck to you.
Answered on 3/09/06, 8:35 pm