Peck Ritchey, LLC > Probate, Trust, and Guardianship Litigation > Total Return Trusts

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 (312) 201-0900 today.

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Attorney Kyle Fahey handled our matter with skill and professionalism, and was always responsive. 10/10, would work with him and the firm again.

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The peace of mind that Peck Ricthey's office has given me is worth every penny. The services they provided me and my family in an emergency medical situation is beyond outstanding. Last minute notice, Peter Brady and team were compassionate, understanding and most importantly efficient and got the job done. Look no further if you have any needs that this office can provide for you. Definitely in good hands! Thank you, a thousand times over for all of your help.

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I solicited Peck Ritchey, LLC for assistance with a living trust for which I became the beneficiary. I needed assistance with understanding the details of how it all worked. However, I was especially concerned because there were threats of allegations made by family members and a lawsuit was filed against me. I needed a solid professional who had my best interests in mind. Peter Brady took my case and he managed it flawlessly. He explained everything in a way I could understand, he knew the law inside and out, he was always available to answer questions, and even offer support when things seemed like they could become extremely problematic. In addition to this, he had a plan. He navigated the course as if he already knew the next move by the opposing attorney. He made me feel like everything was in control and that’s because he knew exactly what he was doing and he consulted with me about everything. We ended up settling out of court and ultimately the court officially dismissed the lawsuit. I honestly believe if it wasn’t for Peter and his expertise this could have gone in an entirely different direction. Peter did a stellar job and I couldn’t be more pleased and impressed with his performance.

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