Let's say a family (all beneficiaries) are in agreement about petitioning the court to dissolve and irrevocable trust worth less than $200k that was created in the 1950s. The remaining assets are being eroded rapidly by bank fees and poor asset management by the bank in charge of it. The original trust company (now bank) has changed hands more than a dozen times since the trust was created. The person who created the trust died in the 1970s and we know that at the time, as a lawyer himself, he believed he was creating a permanent and lasting income generator for future generations.
It's hard to say without a thorough review of the documents and account statements. I'd recommend that you have a sit-down meeting with a nearby Estate / Trust law firm to discuss. See Avvo.com under the link 'Find-A-Lawyer'. Good Luck.
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You may want to contact your local county bar association for an idea of what are the going rates for attorney for this type of service.
You may not need to go to court but could use a non-judicial settlement agreement under Wisconsin Statutes 701.0111. Regardless, you need to contact an experienced estate planning attorney to get an accurate estimate.
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