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You are the trustee of your mothers age 90 RLT In the trust your mother indicates that her house is to be sold and the assets divided among her 14 children As a trustee are you forced to sell the hous?
Wiki User
∙ 15y ago
As trustee you are obligated to carry out the provisions of the trust. The trustor had the right to plan the disposition of their estate and they went to the trouble and expense of having a trust drafted to carry out their wishes. You cannot change the provisions of the trust unless the trust document gives that authority to you. You should consult with an attorney who specializes in probate, real estate law and trust law to determine what your legal options may be.
Wiki User
∙ 15y ago
As the trustee, your primary duty is to follow the instructions laid out in the trust document. If the trust specifies that the house is to be sold and the proceeds divided among the children, you are obligated to carry out this directive, unless there are extenuating circumstances or legal challenges that prevent you from doing so. It is essential to consult with a legal professional to ensure you are following the trust's terms correctly.
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Can a senile person be a trustee?
It may not be advisable for a senile person to serve as a trustee because they may lack the mental capacity to effectively manage trust assets and make sound decisions. Trustees have fiduciary duties to act in the best interests of the trust beneficiaries, and a person with diminished mental capacity may not be able to fulfill these responsibilities.
Is there a senior discount for property tax in Sullivan County Tn?
Yes, Sullivan County, TN offers a senior tax relief program for qualified senior citizens. This program provides a reduction in property taxes for eligible individuals. It is best to contact the Sullivan County Trustee's office for specific information on how to apply and eligibility requirements.
You are disabled and under 65 Will your pension amount be reduced by early withdrawal?
Social security benefits yes. For other pension plans you should get this information from the trustee of the plan. If you are under the age of 59 1/2 and you do not meet the IRS rules for the disabled exception from the 10% early withdrawal penalty the taxable amount of the distribution during the year will be subject to the 10% early withdrawal penalty.
Is it illegal for your brother who was made trustee in mothers living trust to file a quick claim deed?
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.
Is there such a thing as a trustee in a dead persons will?
Some wills do set up a trust. If it does so, it will create a trustee, usually for minor children.
There are 3 trustees to mothers trust Two including myself want to sell going off the appraisal the other beneficiaries also do But the third trustee does not What can you do as a trustee also?
the matter can be referred to a court for advice and directions.
Why would some one want to be a School Board Trustee?
Hopefully they want to be a school board trustee because they want to better their children's education.
When a beneficiary is designated solely to distribute funds to children?
That person is said to hold the funds IN TRUST for the children and is therefore a trustee.
Why would a trustee in a bankruptcy ask for authority to employ an attorney?
The usual reason is the trustee has found evidence that indicates the bankruptcy filer has non-exempt assets that were not reported. This however, does not mean the trustee necessarily believes it was intentional; perhaps the filer did not realize he was owed funds that should have been reported. In rare cases it is because the trustee suspects dishonest activity relating to the bankruptcy. In extreme situations the trustee may refer the case to the U.S.Trustee Office for further action.
Will states that Trustee does not need to be bonded however the Trustee who was the Testator's son is financially irresponsible. Can I as Guardian of the minor children request that Trustee be bonded?
You may certainly make that request of the court. When there are issues like this, the court may even appoint a different executor.
What is the possessive form of trustee?
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
Why must the trustee of an irrevocable insurance trust make the premium payment?
As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.
Can convicted felons be a trustee in Florida?
What kind of "trustee?" "Trustee" for WHAT?
How do you remove an appointed trustee from the board of trustee?
What is a life of Trustee.
If a trust is divided upon death of trustee and split into 3 separate trusts and one of the 3 new trustees has already died what happens to that trust?
It depends upon the terms of the trust and the state law governing the trust. The trust document may explicitly say what happens when a trustee dies (or cannot server). For example, a specific individual may be named as a successor trustee, or a corporate trustee, or perhaps the current beneficaries may by majority vote appoint a new trustee. Failing that the appropriate court could appoint a successor trustee. But you should seek legal counsel.
