When someone dies and leaves their assets in a trust, it is the responsibility of the successor trustee to follow the terms of the trust.
Estate Probate and Trust Administration
A Power of Attorney for Property document is useful while an individual is still alive. Unlike a will, the terms of a Power of Attorney for Property document are not effective after you die.
If you discover that your loved one left behind a will which does not appear to reflect their true wishes, you should consult with a qualified estate litigation attorney immediately to discuss initiating a will contest lawsuit.
Illinois law recognizes that any testator (the person who executed the will) must have sufficient mental capacity to complete his or her will (also known as “testamentary capacity”).
Illinois law provides that those individuals who are improperly excluded from a loved one’s will can challenge the validity of the will based on a claim of undue influence.
The term “fraudulent transfer” refers to a transfer of property which is made for the purpose of deceiving a creditor and inhibiting the creditor from collecting a debt owed.
If the individual owed money during his or her life, then that debt remains, and it is the responsibility of the decedent’s estate to pay that debt.
The word “probate” often makes people nervous or worried about an extended legal battle. Most simply, probate is the court process of appointing a personal representative to handle someone’s affairs after he or she dies.
Elder abuse is on the rise. To protect yourself and your elderly loved ones become educated in the risks and the red flags. Speak to an attorney to set up a plan.
When the trustee fails to satisfy any of the duties, the trustee may be held personally liable for such failure. The attorneys at Hays Firm LLC represent beneficiaries and trustees in trust litigation.