Plaintiff, in her capacity as successor trustee of a trust formed by her deceased husband, petitioned the trial court asking for “aid and direction” under the Illinois Trust Code for permission to use trust assets to pay off a bank loan on property purchased by the plaintiff and the decedent, which plaintiff inherited. The defendants, beneficiaries of the trust, argued that using trust assets to pay off the loan would be contrary to the Probate Act. The trial court entered an order finding in favor of the defendants and plaintiff appealed. The appellate court affirmed, finding no basis in law or in the express terms of the trust or in the will that the plaintiff was entitled to pay off the encumbrance on the property with trust assets. (MOORE and SHOLAR, concurring)
Illinois Appellate Court
Civil Court
Trusts and Estates