Bank has no duty to have trust amended

Bank has no duty to have trust amended

Bank has no duty to have trust amended

An appellate court in Illinois has affirmed a trial court decision holding that a bank trustee has no duty to amend a woman’s trust to make a bigger bequest to her grand-nephews and less to charities that inherited the residue. Marie Bistersky executed a trust in 1989 and amended it six times in 10 years. She filed the sixth amendment with the bank trustee in 1999, leaving small individual gifts, $200,000 each to her two grand-nephews, and the remainder to five charities. In 2001, at the age of 89, she moved to an assisted living facility and one of her grand-nephews discovered that her estate had grown in value to about $1.8 million. Through a series of changes in trustee and discussions...

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