Trustee

Trust accounts or “accountings” can take a number of forms. The simplest is simply to share bank and investment information with beneficiaries and anyone else entitled to trust [...]

In choosing a trustee, the considerations are somewhat different depending on whether your trust is revocable or irrevocable. If you have a revocable trust, you will probably serve as its [...]

Question: My sister is trustee of my mother’s trust. There were assets of approximately $16 million gross. My sister has taken trustee fees totaling $175,000. She initially told all the [...]

Question: The following statement regarding the appointment of successor trustees from a trust has led to some confusion: The initial Trustee is John W., then Edna L., then Susan K. shall serve [...]

Question: In trust documents, my cousin, the settlor, specifically has a clause that states I can eliminate any beneficiary that contests. I did remove one beneficiary. He is now suing me, saying [...]

Yes, trustees are entitled to compensation. After all, they perform important services with a high degree of responsibility and potential liability. Nevertheless, when family members serve as [...]

Question: I am co-trustee of a revocable trust with my elderly mother, the grantor trustee. I have been actively managing the trust. She recently made an amendment to the trust independently with [...]

Question: My father created three small trusts when he died. The one for my sister had about $165,000 in it. My father appointed his attorney, who was also “his friend,” as trustee, [...]

For the most part, trusts don’t pay taxes on their income, instead passing the income through to the trust beneficiaries. But where they do pay taxes, the tax rates are often higher than [...]

Question: My wife’s sister is trustee of their deceased dad’s estate which totals about $700,000. There are four equal sibling beneficiaries, including the trustee. The trustee is [...]