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A trustee MUST follow the terms set forth in the trust. The trustee has no other authority to deal with the trust property except as directed in the trust document. If you think the trustee is violating the trust you can bring an action in your appropriate court to have the trustee removed and a new one appointed. There may be provisions in the trust for removal of the trustee.
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∙ 15y ago
Trustees have a legal obligation to follow the terms of a trust as set out by the trust document and applicable laws. Failing to adhere to the trust's terms can result in legal consequences or removal from the position of trustee. It is important for trustees to act in the best interest of the beneficiaries and manage the trust responsibly.
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After the original settler of the trust appointed two trustees then died can the two trustees appoint a third trustee?
Typically, the power to appoint a trustee would have been granted by the settlor in the trust instrument. If the trust instrument allows for the remaining trustees to appoint a third trustee, then they would be able to do so. It is important to review the specific terms of the trust document to determine the trustees' authority in this situation.
What does it mean to be trustee of a will?
Being a trustee of a will means that you are responsible for managing and distributing the assets of the estate according to the terms outlined in the will. Trustees have a legal obligation to act in the best interests of the beneficiaries and must follow the instructions outlined in the will faithfully.
Can the surviving Trustor change the Co-Trustees of the decedent Trustor's trust?
It depends on the terms of the trust document. Some trusts allow surviving trustors to change co-trustees, while others may restrict this ability or require certain procedures to be followed. It is best to consult with an attorney to review the specific language of the trust and determine the surviving trustor's rights in this situation.
Recently learned I am beneficary of a discretionary trustee will with solicitors acting as trustees keen to learn just what powersinfluence they will have on how when and what monies they can releas?
As a beneficiary of a discretionary trust, the solicitors acting as trustees will have the power to make decisions on whether, when, and how to distribute the trust funds to the beneficiaries. Their decisions will be based on the terms outlined in the trust deed, which will detail the criteria for distributions and the beneficiaries' interests. It is advisable to review the trust deed and consult with the trustees or legal counsel to understand how the trust will operate.
In law a person who finalises the transaction of as property to the beneficiary on express trust?
The person who finalizes the transaction of property to the beneficiary on express trust is typically known as the "trustee." Trustees are legally responsible for managing the trust assets in accordance with the terms of the trust and for distributing the property to the beneficiaries as outlined in the trust document. They have a fiduciary duty to act in the best interests of the beneficiaries and to follow the instructions of the trust.
What has the author James Mitchell Ellis Garrow written?
James Mitchell Ellis Garrow has written: 'Garrow's law of trusts and trustees' -- subject(s): Equity, Trusts and trustees
What has the author Edward C Halbach written?
Edward C. Halbach has written: 'Halbach on uniform acts, restatements & significant trends in estate and trust law' -- subject(s): Trusts and trustees, Probate law and practice 'Edward C. Halbach, Jr. on income taxation of estates, trusts, and beneficiaries' -- subject(s): Trusts and trustees, Law and legislation, Taxation, Inheritance and transfer tax 'Trusts in estate planning' -- subject(s): Trusts and trustees, Estate planning 'Halbach on recurring deficiencies in drafting wills and trusts' -- subject(s): Wills, Estate planning, Trusts and trustees
Irrevocable trust - three trustees - can one trustee withdraw funds?
You must review the terms of the trust to determine if any one trustee can exercise the trustee powers. That is an important issue regarding trusts. Some trusts specify that less than the full number of trustees can act on behalf of the trust and some do not.
What has the author Antony Duckworth written?
Antony Duckworth has written: 'STAR trusts' -- subject(s): Trusts and trustees
What has the author Jean Dimeo written?
Jean Dimeo has written: 'Trusts' -- subject(s): Trusts and trustees, Popular works
What has the author Shackleton Hallett written?
Shackleton Hallett has written: 'Executors and trustees' -- subject(s): Trusts and trustees, Executors and administrators
What has the author Joseph Arnold Nathan written?
Joseph Arnold Nathan has written: 'Nathan's equity through the cases' 'Cases and commentary on the law of trusts' -- subject(s): Cases, Trusts and trustees 'Equity through the cases' -- subject(s): Cases, Equity, Trusts and trustees
What has the author Michael Evans written?
Michael Evans has written: 'Outline of equity and trusts' -- subject(s): Trusts and trustees, Equity
What has the author Robert A Pearce written?
Robert A. Pearce has written: 'The law of trusts and equitable obligations' -- subject(s): Trusts and trustees
What has the author Alan S Acker written?
Alan S. Acker has written: 'Income in respect of a decedent' -- subject(s): Decedents' estates, Taxation 'Income taxation of trusts and estates' -- subject(s): Law and legislation, Taxation, Trusts and trustees 'Accounting for trusts and estates' -- subject(s): Accounting, Estates (Law), Trusts and trustees
What has the author Henry Godefroi written?
Henry Godefroi has written: 'The law of railway companies, comprising the Companies clauses' -- subject(s): Railroad law 'A digest of the principles of the law of trusts and trustees' -- subject(s): Trusts and trustees
What has the author Edward Hector Burn written?
Edward Hector Burn has written: 'Maudsley and Burn's land law' -- subject(s): Cases, Real property 'Maudsley and Burn's trusts and trustees' -- subject(s): Cases, Trusts and trustees
