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Can a trustee appoint someone to act on his behalf as trustee of the trust by signing a power of attorney?
Wiki User
∙ 10y ago
No, they are two different things. A trustee administers a trust and has a fudiciary duty to maintain it as specified by the trust. A power of attorney is someone that is representing another person.
Wiki User
∙ 14y ago
Wiki User
∙ 13y agoNO. A Trust and a Power of Attorney are two completely different legal arrangements.
A trust is a legal entity created on paper pursuant to a Declaration of Trust for the purpose of holding title to property. A trustee is named in the Declaration of Trust and that trustee has the authority to manage the trust property. A trustee has trustee powers over property.
A Power of Attorney is an instrument executed by an individual or other entity (the principal) granting power to an agent to act on behalf of the principal. The agent has powers of attorneyover the property of the principal.
Wiki User
∙ 10y agoDepends on the jurisdiction. Some states allow it and some do not.
Wiki User
∙ 9y agoNo, they are very different. The power of attorney represents a living person. The grantor is the person who created the trust.
Wiki User
∙ 13y agoYou should consult with an attorney who can review the trust and who is familiar with trust law in your state.
Wiki User
∙ 9y agoNo, two totally different things.
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Is a trustee required to use 'trustee' as a part of his signature?
Yes. A trustee must always declare that she is signing a document in her capacity as a trustee. If not, the validity of the document will be compromised by signing as an individual with no reference to her office as trustee.
Do you have to have a trustee for an estate?
In order for there to be an estate, there must be a trustee. You don't have to name one in your will, the court will appoint one. And many banks will serve as a trustee. In most estates no trust is created and therefore no trustee is appointed. Generally, the only fiduciary needed is an executor (with a will) or administrator (without a will). The court will issue either Letters Testamentary or Letters of Administration and the fiduciary will have the authority to settle the estate.
Does a living trust require an attorney as trustee?
No.
My brother recently died and was trustee of an irrevocable mineral rights trust for our family. How do we appoint another trustee?
You need to review the terms of the trust set forth in the declaration of trust and find the section that provides for the appointment of a successor trustee. If there is no provision for the appointment of a successor then you need to get a judge to appoint one.
When can a court appoint a trustee to review the debtor's finances in a bankruptcy proceeding?
If the court believes there may be adverse circumstances, such as possible fraud or other dishonesty or gross mismanagement, then it may appoint a trustee or examiner to review the debtor's finances.
How long should a beneficiary of a Trust expect to wait before hearing from the Attorney who is handling the paperwork for the Trust?
Forever. The attorney doesn't represent you. He / she represents the trustee of the trust. The attorney advises the trustee, and probably should advise the trustee to make disclosure to the beneficiaries (unless the trust instrument waives that duty for the trustee). However, the attorney doesn't control the trustee; he / she only advises the trustee. If you want information, you are going to have to ask for it. If you get no response in a reasonable about of time (say 10 days), you may have to demand it and possibly sue for an accounting.
Can the president of a nonprofit be president of a profit organization?
no he cant,,he can only be appoint as a trustee of a orgnisation
Can someone sue a trust?
Yes. If the beneficiary has any reason the believe the trustee is mishandling the trust estate, they should commence an action immediately by requesting a full accounting. If you suspect the trustee is being dishonest or violating the trust in any way you should consult an attorney who can review the situation and explain your options.
My deceased mother named a trustee on my Grandma's trust and I have power of attorney for my mother Do I become the new trustee?
No you do not. The next person in the list on your Grandmother's trust document steps in as the successor trustee. Powers of attorney are invalid once the principal has died. Your mother's Power of Attorney (which has expired) has nothing to do with your Grandmother's trust.
Can a sibling be the trustee for a spendthrift trust?
Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.Yes. The trustee should be someone who is organized, intelligent, trustworthy and responsible.
What type of attorney protects creditors when there is a bankruptcy?
Bankruptcy trustee.
What is an independent trustee?
An independent trustee is an entity who is completely independent of the parties to the trust, not a relative. For example, an accountant, attorney or the trust department of a bank would be an independent trustee.An independent trustee is an entity who is completely independent of the parties to the trust, not a relative. For example, an accountant, attorney or the trust department of a bank would be an independent trustee.An independent trustee is an entity who is completely independent of the parties to the trust, not a relative. For example, an accountant, attorney or the trust department of a bank would be an independent trustee.An independent trustee is an entity who is completely independent of the parties to the trust, not a relative. For example, an accountant, attorney or the trust department of a bank would be an independent trustee.
