How does a beneficiary in a irrevocable trust remove a trustee from property?

How can you remove a Trust Fund trustee?

my brother is the is in charge of my parents irrevocable will of trust can he remove me

Can a grantor who is also the trustee break an irrevocable trust?

Warning! An irrevocable trust is not created when the grantor (trustor) is also the trustee. By transferring their property to a trust of which they are the trustee the grantor has retained control over the property. Irrevocable trusts are usually set up for tax purposes. The grantor cannot retain any control over the property in order for the trust to qualify as an irrevocable trust. The trust you describe has failed and left the trust property exposed to creditors and taxes. You need to consult with an attorney who specializes in trust law and tax law.

What does successor trustee mean?

A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.A trust is a legal relationship whereby an individual (the trustor) or group of individuals transfers title to their property to a trustee. The purpose is to protect the property from creditors, relatives, any claims or liens made against the individuals, to remove property from an individual's estate, to control how the property will be distributed at death, to minimize taxes, to protect assets from a spendthrift child or beneficiary, etc. The trustee must manage the trust property, pay over the profits from and protect the property according to the terms set forth in the trust instrument.A successor trustee is named to take over the responsibilities and powers of a trustee who has died, resigned or can no longer act for the trust.

What is a trust property?

Generally, a trust is a legal relationship that is set up whereby one person holds the legal title to the property, the trustee, and another has the benefit of the use, enjoyment and income from the property, the beneficiary. Trust law is extremely complex. Very briefly stated, the person who sets up the trust and conveys or transfers their property to the trustee is called the trustor. Once set up properly the trust allows the grantor to remove her property from her own estate, thereby protecting it from creditors and heirs, and still enjoy the use of and income derived from it. The trust property is any personal or real property transferred to the trust such as real estate, stocks, bank accounts, etc. That property is "held in trust" by the trustee.

my mother has set up an irrevocable trust for myself and two other siblings. they get along fine with the trustee but there is great friction between him and myself. how do i have him removed and the trust turned over to another trustee?

Irrevocable means exactly that. The Beneficiaries might be able to remove the trustee if there is malfeasance, misfeasance, incompetence, negligence, fiduciary mismanagement, etc. This is a very difficult task to prove

Can a trustee sell assets in a irrevocable trust when the decease owns 99 percent of the property named in the trust?

You must review the terms of the trust to determine the powers of the trustee. If you still have questions then you need to consult an attorney who specializes in trust law.On one point you seem to be confused. A decedent cannot be the owner of 99% of the property in a trust. The property is owned by the trust. The most common purpose of a trust is to remove property out of a person's estate (the grantor) so that the property bypasses probate.Once a person transfers her property to a trust, it is managed by a trustee according to the terms of the trust. A properly drafted trust has provisions that direct the distribution of property after the death of the grantor.

What is an irrivocable trust?

Revocable TrustsA revocable trust is one where usually, grantor/trustee/beneficiary are the same person. It can be revoked or amended any time until the person's death.Upon death the trust property bypasses probate and assets are distributed to the heirs.ClarificationA trust is a right to hold property for the benefit of another. A trustor (grantor, settlor) creates the trust, places the trust property (land, money, stocks, etc.) in the trust and names both the trustee who will hold power over the trust property and the beneficiaries. A revocable trust can be amended or revoked by the trustor at any time during her life. Be careful with that first statement in the first answer. It is not the definition of a revocable trust. In fact, it is a common trust error. In many states where the grantor, trustee and beneficiary are the same person there is no trust created and the property remains in the grantor's estate. That error can cause serious consequences down the road.

How do you remove a trust from a deed?

The trust document should have a provision by which the trustee can transfer the property. You must follow the provisions in the trust for transfer by the trustee. Generally, in order to remove real property from a trust the trustee must execute a deed that conveys the property to a new owner.

Can a beneficiary to property remove their name?

A beneficiary does not have to accept an inheritance. Their share or that item will go back to the estate to be distributed in another manor.

Can a person be their own trustee?

Trust law is an extremely complicated area of law. You need to consult with an expert in trust law and tax law if you wish to transfer your property to a trust. Generally, a trust is a legal relationship by which one person (the trustee) holds the legal title to property for the benefit of another person (the beneficiary). The object of a trust is to remove that property from your own estate. The reasons why you want to remove property from your own estate include protecting your assets from creditors, avoiding probate, disinheriting a family member, lowering your tax obligations, improving eligibility for government entitlements, etc. If you retain complete control over the trust property by being the trustor, trustee and the beneficiary then you haven't removed the property from your estate and no trust relationship has been established. It is not a good idea to be your own trustee. You may leave your property exposed to creditors and taxes, and further, the trust may fail altogether. Trust errors made by non-professionals (and some inexperienced professionals) can be very costly down the road.

Can a trustee refuse to give disbursements to a beneficiary under a living person's trust?

No. The trustee only has the power granted in the document that created the trust. If the trust was drafted properly, there are provisions in the trust document for the removal of the trustee and for appointing a new trustee. If not, then the matter can be brought before a judge and the court can remove a trustee who is violating the terms of the trust.

Does executor of a trust have to let the beneficiaries of the trust monitor their activities?

Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.Of course they do. The beneficiaries are entitled to an annual accounting and they should monitor the trustee closely. A trustee has sweeping powers over the trust property and it is easy for a dishonest trustee to convert that property to their own use. Every state has laws that govern trustees. Any trustee who resists providing a record of their actions to the beneficiaries should be brought to court. The court can compel the trustee to file an account and the court can remove the trustee if they fail to act responsibly.