,

The Legal Line with Cliff Kelley – Aug 2017

While establishing a trust allows beneficiaries access to assets without going through probate, the legal obligation does not end with the creation of the trust. With the passing of the trustor, handling these sometimes-complex legal matters falls on the trustee, who has certain fiduciary duties to both the trust and its beneficiaries, not to mention an obligation to respect the final wishes of the trustor. Fiduciary oversight includes a number of duties, such as complying with state and federal laws, correctly transferring assets to beneficiaries, and preserving trust funds. Using an experienced Illinois trust attorney ensures that trustees fulfill these duties.