QUESTION
If I have a house in a trust under my name can the trustee take it?
Asked on Sep 27th, 2011 on Bankruptcy - Massachusetts
More details to this question:
My mom is mine and my brother's trustee. She has spent $50,000 of my money. She said it was payment for the times she has helped me out in the past. What are my legal rights to get her not to be my trustee any more?
2 ANSWERS
Criminal Defense Attorney serving Summit, NJ
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Stephen P. Dempsey Counselor at Law
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This is a trust and estate question not a bankruptcy question. You would need to seek to have her removed as trustee for the trust. The trustee has a fiduciary obligation to administer the trust. If they violate that duty they can be removed for the instance you described.
Answered on Sep 28th, 2011 at 6:42 AM
A trustee is someone who has a heightened responsibility to the beneficiaries of a trust ( you and your brother). It's called a fiduciary duty. Your mother likely has no right to the property in the trust or the profits from it, though she may have a right to be compensated for her work as a trustee. If she has taken property or profits she is not entitled to, you can sue her for breach of fiduciary duty and have her replace as trustee.
Answered on Sep 28th, 2011 at 6:29 AM