Legal Question in Wills and Trusts in Illinois

Trust

My grandfather left me a trust which I have been receiving income from since the death of my mother in 1991. The investments are pretty conservative and the income should be higher in my opinion. I haven't pursued breaking the trust because I was told the judge could revoke the whole thing. My problem is that it is with Bank of America (since Continental Illinois Bank & Trust disolved) and I'm concerned it may not be there for my kids when I pass, given the recent problems of B of A. What can I do?

Asked on 3/17/09, 11:06 am

1 Answer from Attorneys

0 users found helpful
0 attorneys agreed

Re: Trust

You should meet with an attorney who can review the trust with you and properly advise you of your rights under the trust document.

Usually when a corporate trustee is acting, they are entitled to maintain the account with their own bank. You may be able to change the trustee or petition the court to do so if there is a legitimate reason.

Good luck to you. Let me know if I can assist you.

Read more
3/28/09, 10:46 pm

Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Illinois

Looking for something else?

Get Free Legal Advice

8817 active attorneys ready to answer your legal questions today.

Probate, Trusts, Wills & Estates Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony RoachLaw Office of Anthony A. RoachChatsworth, CA
David SlaterDavid P. Slater, Esq.Boca Raton, FL
Phillip D. Wheeler, Esq.Phillip D. Wheeler, Attorney At LawMorro Bay, CA
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now