$5,000,000.00+ EXTRAORDINARY RESULT! BELLEVILLE, ST. CLAIR COUNTY,
ILLINOIS, WILL, GUARDIANSHIP, TRUST, GUARDIANSHIP LAW FIRM, OVER
FORTY (40) YEARS OF EXPERIENCE HANDLING SERIOUS WILL, TRUST AND
ESTATE ISSUES, INCLUDING RELATING TO TRUST COMPANIES
MISINTERPRETING DOCUMENTS AND TAKING POSITIONS CONTRARY TO THE
INTERESTS OF CLIENTS OR FAMILY MEMBERS. WE WERE HIRED BY FAMILY
MEMBERS IN REGARD TO A TRUST THAT EXISTED FOR APPROXIMATELY THIRTY
(30) YEARS. AFTER THE LAST TO DIE OF THE SETTLORS, WHO WERE HUSBAND
AND WIFE, THE CORPORATE FIDUCIARY DID NOT WISH TO RELEASE FUNDS TO
THE ADULT BENEFICIARIES. THE CORPORATE FIDUCIARY TOOK THE POSITION
THAT THE SETTLOR, THE SURVIVING WIFE BEFORE SHE DIED, DID NOT
PROPERLY EXECUTE A SPECIAL POWER OF APPOINTMENT BEFORE SHE PASSED
AWAY. IF THE TRUST COMPANY WAS RIGHT, THEY WISHED TO CONTINUE TO
ADMINISTER THE TRUST FOR THE REMAINING LIFETIMES OF THE SURVIVING
CHILDREN OF THE PREDECEASED SETTLORS, WHICH WOULD HAVE MEANT IN
EXCESS OF $5,000,000.00 WOULD HAVE REMAINED IN TRUST FOR AN
ESTIMATED ANOTHER TWENTY (20) YEARS OR MORE, WITH THE CORPORATE
FIDUCIARY CONTINUING TO RECEIVE FEES IN EXCESS OF $100,000.00 EACH
YEAR, FOR APPROXIMATELY ANOTHER $2,000,000.00+ OVER THE COURSE OF
ANOTHER TWENTY (20) YEARS OR MORE OF EXISTENCE OF THE TRUST. A
RESOLUTION WAS REACHED WITH AN ESTATE ADMINISTRATION PROCEEDING IN
ST. CLAIR COUNTY, ILLINOIS WHEREBY THE CORPORATE FIDUCIARY AGREED
WITH THE POSITION AND/OR REQUESTS OF OUR CLIENTS AND AN ORDER WAS
ENTERED IN FAVOR OF OUR CLIENTS WHICH ALLOW FOR THE ESTATE
ADMINISTRATION TO PROCEED TO CONCLUSION WHICH ALLOWED FOR THE TRUST
ADMINISTRATION TO PROCEED TO CONCLUSION WITH EACH OF THE CHILDREN
TO RECEIVE IN EXCESS OF $1,400,000.00 EACH INCOME TAX FREE
INCLUDING BECAUSE OF A STEP UP IN TAX BASIS AS OF THE DATE OF DEATH
OF THE LAST TO DIE OF THE SETTLORS OF THE TRUST. AVAILABLE TO
REPRESENT CLIENTS FROM JASPER COUNTY, NEWTON, WHEELER AND WILLOW
HILL, CRAWFORD COUNTY, ROBINSON, OBLONG AND PALESTINE, LAWRENCE
COUNTY, ROBINSON, OBLONG AND PALESTINE, LAWRENCE COUNTY,
LAWRENCEVILLE, SUMNER AND BRIDGEPORT, ILLINOIS.
We began representing this client in regard to issues our client
was having with a corporate fiduciary. We had researched replacing
the out-of-town corporate fiduciary with a replacement corporate
fiduciary because of complaints our client had over the years.
However, the surviving settlor, the mother, passed away in the
course of negotiating for a new corporate fiduciary. As a result,
we proceeded with estate administration, and trust administration
and obtained a favorable ruling in St. Clair County Circuit Court
which allowed the trust to proceed with an in-kind distribution of
an excess of $1,400,000.00 to each of four (4) siblings to close
out administration of the trust.