QUESTION

Can a trustee move estate money into a personal account without the estate or co-trustee knowing?

Asked on Jun 19th, 2017 on Trusts and Estates - Florida
More details to this question:
N/A
Report Abuse

1 ANSWER

Asset Protection Attorney serving Vero Beach, FL at Charles H. Sanford Law Offices P.L.
Update Your Profile
Dear Sir,   Assuming this is an irrevocable trust (Settlor has died), Trustees are required to advise qualified beneficiaries of the trust and, upon request, to provide them copies w/i 60 days of the trustee(s) assuming trusteeship. Also, trustees are to provide annual accountings of trust transactions. A trustee's authority derives from the terms of the trust so it is possible for co-trustees to have independent authority but this is rare. Improper distribution of trust assets can serve as a basis for action for breach of trust.
Answered on Jun 20th, 2017 at 6:38 AM

Report Abuse

Ask a Lawyer

Consumers can use this platform to pose legal questions to real lawyers and receive free insights.

Participating legal professionals get the opportunity to speak directly with people who may need their services, as well as enhance their standing in the Lawyers.com community.

0 out of 150 characters