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do i the trustee have to provide copies of my fathers benificiaries, my brothers?
Wiki User
∙ 15y ago
A trustee is legally required to give the beneficiary a copy of the terms of trust if they request it.
Wiki User
∙ 15y ago
As a trustee, you typically have a legal obligation to provide copies of the trust document and relevant information to the beneficiaries, including your brothers. This helps ensure transparency and accountability in the management of the trust and keeps beneficiaries informed about their rights and interests. It's important to follow the guidelines outlined in the trust document and consult with a legal expert if you have any questions about your duties as a trustee.
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Does trustee have permission to sell your fathers house without beneficiary consent?
It depends on the terms outlined in your father's trust. If the trust grants the trustee the authority to sell the house without beneficiary consent under certain circumstances, then the trustee can proceed with the sale. However, if the trust requires beneficiary consent for the sale of the house, then the trustee would not have the authority to sell it without that consent.
What is the possessive form of trustee?
The possessive form of "trustee" is "trustee's." For example, "The trustee's decision was final."
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.
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.
How can you find out if your trustee is taking monies from the trust account?
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.
Can I request from the trustee of my fathers estate to see his will?
The estate should be filed in the probate court. You can go there and request to see the file. You can make a copy of the will at the public copier if there is one or ask the court clerk to provide a copy at a nominal expense. You should have a copy of the will so that you can know the terms, the property contained in the trust, and the trustee's duties under the trust. That way you can monitor the actions of the trustee and make certain he/she is handling the assets in a prudent manner.
Does trustee have permission to sell your fathers house without beneficiary consent?
It depends on the terms outlined in your father's trust. If the trust grants the trustee the authority to sell the house without beneficiary consent under certain circumstances, then the trustee can proceed with the sale. However, if the trust requires beneficiary consent for the sale of the house, then the trustee would not have the authority to sell it without that consent.
What is the difference between a trustee and a successor trustee of an irrevocable trust?
The trustee is the person who presently has the authority to carry on the business of the trust. If the trustee dies, resigns or is for some reason unable to continue their duties then a successor trustee is appointed. A well drafted trust will name a successor trustee and a process by which successor trustees may be appointed. If the trust instrument fails to provide for the appointment of a successor trustee then a court of equity can be petitioned to make an appointment. Once appointed, the successor trustee has all the powers and duties of the original trustee.
Who gains ownership after death of trustee?
The trust instrument should provide for the appointment of a successor trustee and for the distribution of the trust property. If it doesn't then a judge will need to address the issue.
How do you obtain an accounting of your trust from the trustee?
The beneficiaries should request it in writing. A trustee should always be willing to provide an account and it should be easy if they are keeping good records. If the trustee doesn't respond in a timely manner then you should file a complaint with the court. A trustee who doesn't perform their legal duties properly should be replaced. The court can remove and replace a trustee.The beneficiaries should request it in writing. A trustee should always be willing to provide an account and it should be easy if they are keeping good records. If the trustee doesn't respond in a timely manner then you should file a complaint with the court. A trustee who doesn't perform their legal duties properly should be replaced. The court can remove and replace a trustee.The beneficiaries should request it in writing. A trustee should always be willing to provide an account and it should be easy if they are keeping good records. If the trustee doesn't respond in a timely manner then you should file a complaint with the court. A trustee who doesn't perform their legal duties properly should be replaced. The court can remove and replace a trustee.The beneficiaries should request it in writing. A trustee should always be willing to provide an account and it should be easy if they are keeping good records. If the trustee doesn't respond in a timely manner then you should file a complaint with the court. A trustee who doesn't perform their legal duties properly should be replaced. The court can remove and replace a trustee.
How does a trustee know what they can sell in a chapter 7 and does a person have a trustee if they have a lawyer?
Both the laws and the bankruptcy filing, and the info the court finds (like that provided from creditors...who will ask the trustee about things you claimed to own on your crdit application), and from credit reports and tax returns, all types of things provide information for the trustee to act on. The trustee exists with or without a lawyer. In fact, your lawyer may be an advisory to the trustee on many things.
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.
Does a trustee get all the money in a trust?
No. The trustee has the power and authority to handle the money in the trust according to the terms set forth in the trust. The trustee must distribute the profits as provided in the trust and must distribute the remaining trust property when the trust terminates according to the provisions in the trust. The trust may also provide compensation for the trustee.
