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Generally speaking a Trustee is empowered to settle an estate within the guidelines of the Trust (or will). His / Her, functions are described by the trust documents and can vary to a large degree.

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15y ago

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Related Questions

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.


How do you remove an appointed trustee from the board of trustee?

What is a life of Trustee.


Can convicted felons be a trustee in Florida?

What kind of "trustee?" "Trustee" for WHAT?


What is the difference between the trustee and the royal colony?

royal-run by governor trustee-run by trustee


What is substitution of trustee?

Replacing the trustee with another for some reason; maybe the trustee gets old and finds the job burdensome. There might be another trustee named in the document as authorized "..in the event first trustee resigns." I'm no lawyer, but I guess you could petition the court for a replacement trustee if you could prove the trustee was not following the lawful trust instructions or something.


Is a trustee required to use 'trustee' as a part of his signature?

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.


Can the same person be both the beneficiary and the trustee of a blind trust?

No. The trustee has full control over the assets in the trust. In a 'blind trust' the trustee must be completely independent. If the beneficiary is the trustee then the trustee is not completely independent.


Can original trustee take back duties after turning over to successor trustee?

No. Not unless the power to reinstate herself as trustee was granted in the trust instrument. Generally, once a successor trustee is appointed the former trustee has no powers.No. Not unless the power to reinstate herself as trustee was granted in the trust instrument. Generally, once a successor trustee is appointed the former trustee has no powers.No. Not unless the power to reinstate herself as trustee was granted in the trust instrument. Generally, once a successor trustee is appointed the former trustee has no powers.No. Not unless the power to reinstate herself as trustee was granted in the trust instrument. Generally, once a successor trustee is appointed the former trustee has no powers.


Can the trustee and beneficiary be the same person in case of private trust?

If there is (1) more than one trustee; and, (2) the trustee-beneficiary cannot act as trustee unilaterally; and (3) the other trustee is not a beneficiary of the trust, yes. If the the trustee is also designated the beneficiary, the trust fails as illusory.


If a house was transferred to a living trust can it be sold?

You need to check the document that created the trust to find your answer. All the provisions of a trust and the powers of the trustee are set forth in that trust document. It creates a self governing entity. The trustee can only perform the functions set forth in the declaration. If the trustee has the power to sell real estate the trustee can execute a deed that conveys the property to a new owner. If there is no power in the trustee to transfer real estate explicitly recited in the trust document, then you will need to petition a court to issue a license to sell the real estate or reform the trust to include a power of sale.


What is the difference between the trustee and the fiduciary of a trust?

fiduciary and trustee