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Do trustees hold legal titles to trust assets?

Yes. A trust is set up for the purpose of enabling the legal title of the trust property to be held by the trustees. The trustees have the legal power to deal with the trust property according to the provisions set forth in the trust document only.


What happens if a co-trustee dies?

You need to review the provisions of the particular trust to determine how or if new trustees can be appointed. Every trust is managed according to the provisions set forth in the document that created it.You need to review the provisions of the particular trust to determine how or if new trustees can be appointed. Every trust is managed according to the provisions set forth in the document that created it.You need to review the provisions of the particular trust to determine how or if new trustees can be appointed. Every trust is managed according to the provisions set forth in the document that created it.You need to review the provisions of the particular trust to determine how or if new trustees can be appointed. Every trust is managed according to the provisions set forth in the document that created it.


Is one member of the irrevocable trust allowed to pay his real estate taxes for his business without the ok from the other trustees?

The trustees of a trust can only carry out the provisions set forth in the trust. Trustees and trusts are governed by state and federal laws. Self dealing by any trustee is prohibited under the law. You need to review the terms of the trust as set forth in the document that created it. It should set forth how the profits are to be used and distributed. It should also set forth the powers of the trustees. If the trust doesn't say that Charlie can pay his personal business property taxes from the proceeds or profits of the trust then he can't do it, should pay back any sums he has taken and should be removed as a trustee because he cannot be "trusted". If the attorney who drafted the trust is still available then perhaps you should seek their advice. If not then you should speak with an attorney who specializes in trust law who could review the situation and explain your legal options.


What three bodies of water did the settlers use for traveling bacd forth to Jamestown and England?

Chesapeake Bay


Can one trustee sell property in trust without second trustee's signature?

That depends on the provisions set forth in the trust. You need to review the trust. The trust document may provide that any one trustee can act or it may require that both trustees join in any action taken by the trustees.


Do the surviving two trustees need to appoint a new third trustee when one trustee has died and they don't agree and can the beneficiaries force them to appoint a third trustee?

You need to review the document that created the trust. It should contain instructions regarding the appointment of successor trustees. The trustees and beneficiaries may only exercise the powers set forth in the trust document. If this issue is not addressed in the trust document then perhaps the trustees can draft an amendment that would allow the appointment of a successor trustee. Of course, the power for the trustees to amend the trust would have to be recited in the trust document. If the trust document is poorly drafted and does not contain the answers then the matter may need to be brought before a court of jurisdiction. You should seek the advice of an attorney who specializes in trust law to help solve your dilemma.


John Locke a writer and philosopher set forth many principles that became the basis for the?

American revolution


John Locke, a writer and philosopher, set forth many principles that became the basis for the?

American Revolution


John Locke a writer and philosopher set forth many principles that became the basis for the .?

American revolution


Can trustees not follow a trust's terms?

A trustee MUST follow the terms set forth in the trust. The trustee has no other authority to deal with the trust property except as directed in the trust document. If you think the trustee is violating the trust you can bring an action in your appropriate court to have the trustee removed and a new one appointed. There may be provisions in the trust for removal of the trustee.


How do I appoint a new trustee in a land trust?

It is important that you review the provisions set forth in the trust document. The trust should provide instructions for the appointment of successor trustees. If the trust is silent you may need to request that a judge modify the trust to allow the appointment of a new trustee.


Can you sell a home that is in an irrevocable Trust?

You need to review the language in the document that created the trust for your answer. ALL the provisions of a trust and the powers of the trustee must be set forth in the trust document. You would be looking for the section dealing with trustees powers and under that the power to sell and convey real estate.