General Duties of a Trustee

General Duties of a Trustee:  One of the more important considerations when discussing estate planning options is the institution or individual named as Trustee or Successor Trustee.  If one of the estate planning vehicles being considered is a revocable or “living” trust, with the grantor acting as the initial trustee, the individual or institution named as . . . → Read More: General Duties of a Trustee

Fiduciary Relationship – Significance

While a fiduciary relationship is created under a Power of Attorney, or between a trustee and a beneficiary, certain circumstances may exist between an individual and another which will result in a finding of the existence of a fiduciary relationship without a formal agency.

Relevant factors to consider in determining whether a fiduciary relationship exists are:

The degree . . . → Read More: Fiduciary Relationship – Significance

Representation of Trustees and Fiduciaries

Representation of Trustees and Fiduciaries is one of the services offered by Christine C. Karr, a Chicago Probate attorney, and includes representation of individual trustees and successor trustees, as well as corporate fiduciaries acting as trustees. 

Services offered include:

Trust administration
Accountings and reporting to beneficiaries
Trust litigation
Trust termination and distributions
Federal income tax preparation
Preparation of Trust agreements
Supplemental Needs Trusts
OBRA Trusts
Representation . . . → Read More: Representation of Trustees and Fiduciaries

Trust & Estate Administration

Trust and Estate Administration is the process by which assets are identified, collected and retitled, by a trustee or estate representative with or without the assistance of a probate attorney.   In the case of a trust, the assets of the trust are then administered according to the terms and provisions of the trust agreement or declaration.  . . . → Read More: Trust & Estate Administration