More details to this question:
My great-grandfather left us a massive trust. How do we manage it?
2 ANSWERS
Estate Planning Attorney serving Goshen, NY
Partner at
Blustein, Shapiro, Frank & Barone, LLP
3 Awards
My first response is, who are the Trustees of the Trust? Those persons (or entity if a corporate Trustee is designated) have sole legal authority to administer the Trust.
Answered on Jan 09th, 2017 at 5:14 AM
Civil Rights Law Attorney serving Rockville Centre, NY
Partner at
Lori Nevias, Attorney at Law
1 Award
Where there is a trust, there is a trust agreement. Locate the trust agreement and it should have detailed instructions for the trustees and information for the benificiaries. The instructions should mirror the statutory language which sets out the powers and responsibilities of trustees. At times these instructions can be confusing and unclear, in which case a lawyer can be very helpful in explaining what the trustees can and should do.
Answered on Jan 09th, 2017 at 5:13 AM