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Can an heir who is the trustee of his sister's special needs trust sue her trust to get money for another sibling who was written out of the will?
Wiki User
∙ 10y ago
No. The heir has no right to the funds set aside in the special needs trust. A living donor set that trust up with their own property and the heir has no rights to that property whatsoever. The trust is not responsible in any way for a sibling who was disinherited. Parents are allowed to disinherit their adult children.
Wiki User
∙ 10y ago
It would depend on the terms of the trust and the laws of the specific jurisdiction. Generally, the trustee has a legal duty to follow the terms of the trust and act in the best interest of the beneficiary. It may be challenging for the trustee to sue the trust to distribute funds to a sibling who was not named as a beneficiary.
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Does the trustee who is your sibling have to provide the beneficiary with a copy of parents trust?
Yes, as a beneficiary, you have the right to receive a copy of the trust document. The trustee, who is your sibling, has a duty to keep you informed about the trust and its administration. You can request a copy of the trust document from the trustee if you have not received one.
What is substitution of trustee?
Substitution of trustee is a legal process where the current trustee of a trust is replaced with a new trustee. This can be done for various reasons, such as the original trustee resigning, becoming incapacitated, or being removed due to misconduct. The new trustee assumes all the duties and responsibilities of the former trustee.
What is the possessive form of trustee?
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
Can original trustee take back duties after turning over to successor trustee?
In general, once a trustee transfers their duties to a successor trustee, they no longer have the authority to take back those duties without the approval of the beneficiaries or a court order. It is important to follow the terms outlined in the trust document and seek legal advice if there is a dispute or question about trustee responsibilities.
Can a settlor transfer property to trustee for the settlor and trustee?
Yes, a settlor can transfer property to a trustee for the benefit of both the settlor and the trustee. This is known as a self-settled trust, where the settlor retains some level of interest or benefit in the trust assets while also creating a trust for another beneficiary, such as the trustee. However, self-settled trusts may have restrictions or be subject to specific rules depending on the jurisdiction.
If one sibling filed chapter 7 and there is property that is left by your deceased parents but no succession has been filed by your siblings can a trustee sell the property to pay creditors?
Only that property that is determined to be owned by the sibling. If property is owned jointly between the sibling and the remaining family, the remaining family may be forced to get a loan to pay the appraised value of the siblings share. As this Q is frequently referred to by those asking about a trustee that is a sibling.....a trustee is NOT the owner of any of the proerty he is trustee for...in fact, IT CANNOT be used for his personal needs.
How do you become a trustee for a special needs trust?
You would have to be designated as the trustee when the trust is created.
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.
When a trustee dies does the beneficiary of the trust get notified of what is in the trust?
Not necessarily, another trustee will be appointed.
What is substitution of trustee?
Substitution of trustee is a legal process where the current trustee of a trust is replaced with a new trustee. This can be done for various reasons, such as the original trustee resigning, becoming incapacitated, or being removed due to misconduct. The new trustee assumes all the duties and responsibilities of the former trustee.
Can a name be added to living trust property?
No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.No. The property in a trust is held in the name of the trustee of the trust. It may be possible to amend the trust to include another trustee. Such actions should be done by an attorney.
When is co trustee liable for a unauthorized act of another trustee?
A co-trustee is not responsible for the unauthorized acts of the other trustee unless she/he knew of the unauthorized acts and did not report them or facilitated them in any way. A trustee who mismanages trust funds is personally liable.
What do you do if a sibling is trustee of a living trust and you feel he may be using funds from the trust for his own use in California?
If possible you should discuss the situation with the trustor and ask to have the trustee removed. If that's not possible you could start by asking for an accounting by the trustee. You have an equitable interest in the trust property and the trustee is responsible while he is in charge. If you suspect that the trustee is borrowing against the trust, take him to court. Court's do not look favorably on self-dealing by a trustee and can remove the trustee if it finds the trustee is violating the trust. As a fiduciary the trustee is bound to do nothing that compromises anyone's rights under the trust. As a fiduciary the trustee has the obligation to grow the assets of the trust rather than waste them. If the trustee is making unsecured, no-interest loans to himself he is not making prudent decisions on behalf of the trust.
Does the trustee who is your sibling have to provide the beneficiary with a copy of parents trust?
Yes, as a beneficiary, you have the right to receive a copy of the trust document. The trustee, who is your sibling, has a duty to keep you informed about the trust and its administration. You can request a copy of the trust document from the trustee if you have not received one.
Do you have to get permission from the bankruptcy trustee to finance another car?
If you are in a Chapter 13, then you must get approval from the trustee if you wish to incur more debt.
What is another word for person entrusted with secrets?
confidant trustee
Recently my father died and left a trust fund to me and my 2 siblings. can one sibling invest the enitre trust fund without the consent of the others. why or why not?
You need to review the document that created the trust to determine what can and cannot be done with the trust property and who can do it. A trust is managed by a trustee. The trust document will tell you the identity of the trustee and will also set forth all the powers of the trustee.
