Choosing a trustee of your trust can be difficult. The ideal trustee is knowledgeable, honest, careful, patient, neutral, well-organized, has time to devote to the role and is committed to executing the trust’s intended values and instructions. Identifying a family member or friend to act as a trustee can be a struggle, as many individuals lack the knowledge, time, skill, or run a risk of creating stress on the family dynamic. Trust Company of Illinois and its team of experienced administrators can step in and serve as a trustee, co-trustee, agent for the trustee, successor and future trustee, or guardian. We educate our clients on the differences, providing gentle guidance to help identify the best choice for each family.
With over 20 years of experience in settling estates, Trust Company of Illinois has gained deep insight into how to assist families before, during and after life events that necessitate the transfer of wealth.
When engaging our organization in either the trustee or co-trustee role, we act proactively and cost consciously, providing the following services:
Thoroughly explaining each step in the trust administration process from transferring assets into the trust to making distributions
Reducing family conflict by distributing wealth in accordance with clients’ wishes
Performing comprehensive trustee duties, eliminating potential errors and delays, as well as their resulting costs
Access to our vast network of consultants for specific tasks related to tax and legal issues
When named in the role of executor or co-executor, Trust Company of Illinois carefully shepherds estates from the moments immediately following death through the probate process, guiding families through this difficult time of transition. We are committed to delivering convenience, transparency and the responsibility of a professional fiduciary while acting in each family's best interests. We do the heavy lifting, managing the details including locating important governing documents, discussing funeral arrangements, determining if probate is necessary, filing the will, notifying beneficiaries and applying for a federal taxpayer identification number. Finally, we navigate the probate process and close the estate.
As financial guardian, we are also dedicated to guarding and managing the estates of those who are unprepared or unable to handle their own financial responsibilities such as children, disabled adults, or persons with cognitive limitations. Our ongoing services include determining overall cash flow requirements and living expenses, managing monthly bills, coordinating medical insurance filings and expenditures, preparing tax returns, and investing and managing assets.
We are dedicated to working in the best interest of our clients. We listen to their concerns and advocate for the needs of their loved ones.