Contact the Attorney or whomever Legally drew up the Trust. * The attorney will not give out such information. If the trustee refuses to supply the beneficiaries with a copy of the trust or the information that is sought, the interested party will need to petition the probate court for a copy of the document.
my brother is the is in charge of my parents irrevocable will of trust can he remove me
If the person is deceased, you can contact the trustee if you know who the trustee is.
In most cases the debts of the deceased are the responsibility of the estate or the trust. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
What beach house? Who is the trustee? However, the answer is probably no. The trustee typically has discretion on when and how to make distributions from the trust.
He has to abide by the laws in the State you are in and that includes what the Will declares. If you are to get the house then you get the house. Usually Wills are probated to be sure that all personal/property taxes are paid off and this includes all creditors are paid in full. What is left is called "Residue of the Estate." You also have a right to a copy of the Will and if your brother refuses to give you one, then get a lawyer and demand one.
There should always be provisions that the trustee must provide periodic accountings to the trustor and the beneficiaries. There should be at least annual accountings where the trustee must account for every cent coming into the trust and every cent going out. If the trustee refuses then you should petition the court to compel the trustee to provide an accounting ASAP.
it goes to the next of Kin or to the state as cherity
No, a trustee does not have beneficial rights to the corpus of a trust. The trust ownership is split between legal and beneficial.
The state will open the estate. The assets will go into a trust for the use of the children. The state will appoint a trustee for the assets and a guardian for the children. They may be the same person.
Yes. You should be able to review the trust. You can also ask for a regular accounting so that you can monitor the trustee's management of the trust property. If the trustee refuses you can file a motion in a court of equity to compel an inventory and accounting. You should consult with an attorney who can review your situation and explain your options.
The trustee should be required to file an account every year that can be reviewed by the beneficiaries of the trust. They have an interest in both the trust property and that the trustee not waste, misuse or steal any of the trust assets. If the trustee is being secretive then the trust should be reviewed for any provision that address the removal of the trustee and the appointment of a successor. If there are no such provisions IN the trust document, a petition should be brought to a court of equity. A judge can appoint a new trustee. Any trustee who refuses to be accountable to the beneficiaries is not "trustworthy".
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.
You need to review the trust document for the answer to your question. It should contain a provision for distribution of the share of a deceased beneficiary. If the trustee has died a new trustee needs to be appointed to make the distribution. The trust document should also have provisions for the appointment of a successor 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.
George Lopez - 2002 George Doesn't Trustee Angie's Brother 5-16 was released on: USA: 1 March 2006
No, you are not PERSONALLY liable for your mother's debts. Debts of the deceased are paid from the estate, so as the Trustee for that estate, you would have to see that the debts are paid from the estate. Creditors must file a claim against the estate to be paid, and state laws dictate the time limit for filing such claims.
A beneficiary doesn't have to allow such a buyout. And don't agree to take less than the proper amount for such a transaction.
As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.
Your brother's powers as trustee are set forth in the trust document. You need to revew the trust to determine what he can and cannot do.
A subsidiary co. can be a member of its holding company if it holds shares of parent co. as a trustee or in form of a deceased shareholder.
What kind of "trustee?" "Trustee" for WHAT?
What is a life of 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.
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.