Legal Question in Wills and Trusts in Illinois
Revocable Trust
I have been named as Successor Trustee of both of my parents trusts. They have both been declared mentally incompetent by the circuit court under a guardianship case. I was co-erced into resigning as successor trustee so that a financial institution could act. I would like to rescind my resignation. Is that possible? Also I have two other siblings that are named in succession as successor trustee in the event of my resignation. It has not been 30 days since this resignation yet, although the court has issued an order for the financial institution to act. Is that legal?
2 Answers from Attorneys
Re: Revocable Trust
Hello. You should seek to vacate the court's last
order as soon as possible. You should file a motion to vacate the order within 30 days of when the court order was entered. Of course the motion needs to specifically state why
you want the court to vacate it's order granting you leave to resign as Successor Trustee. Will be happy to discuss this further and in more detail. In my opinion you difinitely should have legal representation to get the job done.
Re: Revocable Trust
Depends on the terms of the Trust. You need to have it reviewed by an attorney
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