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  • A Brief Overview of a Trustees Duties - ElderLawAnswers
    Trustees are entitled to reasonable fees for their services Family members often do not accept fees, though that can depend on the work involved in a particular case, the relationship of the family member, and whether the family member trustee has been chosen due to his or her professional expertise Determining what is reasonable can be
  • How Much Should a Trustee Be Compensated? - ElderLawAnswers
    In addition to compensation for their work, trustees are also entitled to reimbursement for any expenses that they might incur in the course of performing their duties, including travel, storage, insurance, or taxes If the beneficiaries are unhappy with the fees the trustee receives, they can challenge them in court
  • How to Choose a Trustee - ElderLawAnswers
    Professional Trustees If you don't know anyone who meets these qualifications, you can look into hiring an independent trustee This can be an individual or an institution with no beneficial interest in the trust Some examples include: A bank or trust company; A professional trustee; An investment advisor or manager; An investment banker; An
  • Estate Planning: What Is a Revocable Trust? - ElderLawAnswers
    To place bank and investment accounts into your trust, you need to retitle them as follows: “[your name and co-trustee’s name] as Trustees of [trust name] Revocable Trust created by agreement dated [date] ” Depending on the institution, you might be able to change the name on an existing account
  • Can Trustees Deliberately Keep Assets from Beneficiaries? - ElderLawAnswers
    Trustees are not allowed to conduct transactions unless they are authorized by the trust terms A If the trustee won’t provide it, seek a court order that forces them to share all information regarding the assets in the trust, including records of financial transactions and tax filings
  • What Is the Best Way to Make Sure a Trustee Follows . . . - ElderLawAnswers
    But in other ways the answer is simple Do the best you can now in picking a trustee but also make sure there is a mechanism in the trust that permits you and your husband to change trustees while you're alive and for your son to do so after you have both passed away or are no longer competent
  • 5 Rights That a Trust Beneficiary Has - ElderLawAnswers
    Trustees have an obligation to balance the needs of the current beneficiary with the needs of the remainder beneficiaries This can be challenging to manage Right to end the trust – The beneficiaries of a trust can petition the court to end the trust if they all agree This is possible in certain circumstances
  • Can Creator of a Revocable Trust Make Changes? - ElderLawAnswers
    The creator of a revocable trust, often called the "grantor," "donor," or "trustor," can make whatever changes she wants She does not have to tell the beneficiaries that she is changing trustees, but she does need to inform the current trustee Otherwise, the trustee may continue acting in that role with no knowledge that she has been removed
  • When to Consider Discretionary Trusts for Your Estate Plan
    Takeaways A discretionary trust protects inherited assets from creditors, predators, and divorcing spouses by placing them under the control of a trustee, not the beneficiary
  • Is a Trust Valid When a Trustee Moves to Another State? - ElderLawAnswers
    If your trustee moves to another state, you wouldn’t have to change the deed, but the registry of deeds where your property is located may require a new trustee’s certificate to be filed





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