Champaign Trust Litigation Attorneys

In this video, our Elmhurst trust litigation attorneys describe that a trust is both a document and a legal entity that can own property separate from its creator.  A trust is created by an individual or entity known as a “grantor” or “settlor". Once the trust is drafted and executed by the grantor, the grantor or third parties can transfer ownership of property to the trust.  The trust is therefore a separate legal entity from the grantor that can own property, much like a corporation.  

In this video, our Elmhurst trust litigation attorneys will explain how to use special needs trusts in order to maximize social security benefits for individuals with disabilities. We use Special Needs Trusts, also known as Supplemental Needs Trusts, in order to allow disabled individuals to accumulate assets and income in excess of these amounts without reducing the amount of SSI benefits that they are eligible to receive.

In this video, our Elmhurst trust litigation attorneys discusses the reformation of a will or trust, reformation of a trust based on mistake, reformation of a trust based on changed circumstances, and lastly what evidence is necessary in a reformation suit. Reformation of a will or trust is the action of modifying the will or trust instrument to best align with the intent of the settlor (the person that established the trust). The differences between a will and trust reformation versus modification are subtle, but, generally, reformation is concerned with correcting an inaccuracy caused by mistake, fraud, or changed circumstances, while modification seeks to modify the actual terms of the trust to clear up confusion, ambiguity or due to an unforeseen change in circumstances. Both revocable and irrevocable trusts can be reformed or modified by the court and these actions can be forced by an interested party in a reformation lawsuit.