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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