Illinois — Personal Liability of Executors and Trustees

Timothy L. Bertschy (Partner, Heyl, Royster, Voelker & Allen, Peoria, Illinois) has recently published his article entitled Personal Liability of an Executor or Trustee — Time for Change, 98 Ill. B.J. 140 (2010).  Here is the Journal’s comment about the article:

Illinois’ common law, which often makes estate and trust executors and trustees personally liable to third-party creditors and claimants, is outdated, the author argues. He recommends embracing the Restatement and Uniform Probate Code, which shifts liability to the estate or trust.