QUESTION
Is it a legal conflict of interest for a beneficiary to also be the accountant and trustee of the will?
Asked on Dec 07th, 2014 on Estate Litigation - California
More details to this question:
My mother is alive and 81. My sister (1/4 sisters) is the sole trustee and CPA of our mothers estate. She took mom to a lawyer, someone who sister shares clients with, to make changes to the will. Mother has an large portfolio. Is this a conflict of interest?
1 ANSWER
I am not sure it meets the technical terms of a conflict since your sister is the daughter. Thus her being the trustee and accountant is probably fine. She may be operating unethically in some other way though; perhaps unduely influencing mom? Having said all that my feeling is that anytime anybody has reason to question a relationship like this means there is a problem. It's too bad your sister is not aware of it and would then hopefully either distance herself or provide information/documentation to make others feel comfortable. Good luck to you. -John
Answered on Dec 09th, 2014 at 7:44 AM