Chicago Total Return Trust Litigation Attorneys

The state of Illinois has permitted conversion to total return trusts (TRTs) since 2004, which sets a default rate of payment at four percent, unless all beneficiaries agree on setting a rate between 3 and 5 percent. Although total return trusts were designed to create a more equitable environment by eliminating conflicts of interest between all trust parties involved, TRTs create an increased amount of trustee liability.

If you are involved in a TRT dispute in the Chicago area, whether as the trustee or beneficiary, our Chicago probate litigation attorneys at Peck Ritchey, LLC, may be able to help you fight to protect your rights and interests.

Trustee Liability with Total Return Trusts

Due to the increased amount of trustee liability, the following are actions that a trustee may be involved in, resulting in conflict among the trust parties:

  • Conversion to TRT without proper consent of beneficiaries
  • Conversion to TRT unreasonably or in bad faith
  • Dramatic adjustment of the trust investment allocation towards equities
  • Miscellaneous investment disputes

Furthermore, Chicago area investment disputes often involve a disagreement among one or more beneficiaries with the trustee’s investment decision to either maximize long-term growth, short-term income, or meet in the middle. As such, it may be wise to consult a Chicago probate attorney to help guide you through the obstacles involved with total return trusts – particularly if litigation is in the picture.

Consult with a Chicago Total Return Trust Attorney

At Peck Ritchey, LLC, our Chicago total return trust attorneys can help you determine how to best handle your total return trust litigation situation. To discuss the particulars of your circumstances with one of our Chicago probate attorneys, please call our Chicago offices at (855) 328-5787 today.