The identity of successor trustees and the procedure for succession will be plainly specified in the provisions of the trust instrument. Judicial involvement would be necessary for naming a successor trustee or a procedure thereto beyond the terms of the trust instrument. Citing the lack of a disinterested trustee would be a valid basis for petitioning a court to change the identity of a successor trustee beyond the operation of the terms of the instrument, but the court's question would be why was the individual thought likely or even certain to be disinterested when the trust instrument was originally drafted.
You cannot have the same person as grantor, trustee and beneficiary in any trust. There is no trust created in such a set up. The grantor in an irrevocable trust cannot be the trustee. The property in an irrevocable trust must be permanently separated from the grantor's control.
A trustee and a beneficiary are essential to a trust. Without a trustee and a beneficiary there is no valid trust. They should not be the same person.
yes
You need to review the terms of the trust to determine the extent of the trustee's power.
No. That would invalidate the trust.
A trustee has only the powers set forth in the trust. You must review the trust document to determine what the trustee can do.
An irrevocable trust cannot be amended. An example of this is an Oklahoma case in which the Tax Commission could tax a trust created in Oklahoma as a resident domiciled trust even after the grantor and trustee moved to Nevada. http://caselaw.lp.findlaw.com/scripts/getcase.pl?court=ok&vol=/appeals/2001/&invol=275718 Often, this is taken into account by a skilled attorney and the irrevocable trust specifically permits the trustee to change the domicilie of the trust.
my brother is the is in charge of my parents irrevocable will of trust can he remove me
When you click on the link that has been provided for you beneath this answer it will take you directly to a webpage where you will find everything that you need to need to know about irrevocable trusts and trustees.AnswerThere are revocable trusts and irrevocable trusts. A trustee can only do what is provided in the trust and what is allowed by law. A properly drafted revocable trust should have a provision for the dissolution of the trust. An irrevocable trust is notsubject to change or dissolution. You should consult with the attorney who drafted the trust to determine your options.
Unless the trust has provisions for removal of a trustee then an interested party would need to bring an equity petition to the appropriate court to have the trustee removed and a successor appointed. If there is a substantial amount of money involved you should seek the advice of an attorney and file your petition ASAP.
The trustee has only the power that is set forth in the trust document. You should review the trust document to determine if that specific power was granted to the trustee.
As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.As trustee that is their responsibility.