firing the successor trustee

This is a discussion on firing the successor trustee within the Wills, Trusts and Estates Questions forums, part of the Legal Questions & Answers Forum category; Our trust language allows a majority of the adult beneficiaries to elect a new trustee if current trustee isn't doing his job. How do we document the election and make ...

Results 1 to 5 of 5
  1. #1
    Junior Member
    Points: 24, Level: 1
    Level completed: 47%, Points required for next Level: 26
    Overall activity: 99.7%
    Achievements:
    7 days registered

    firing the successor trustee

    Our trust language allows a majority of the adult beneficiaries to elect a new trustee if current trustee isn't doing his job. How do we document the election and make it official?


  2. #2
    Member
    Points: 449, Level: 8
    Level completed: 98%, Points required for next Level: 1
    Overall activity: 0%
    Achievements:
    3 months registered250 Experience Points

    You have to follow the proper legal procedures of the state where you are attempting to remove the trustee.

  3. #3
    Junior Member
    Points: 13, Level: 1
    Level completed: 25%, Points required for next Level: 37
    Overall activity: 99.0%

    this is not what i asked about???

  4. #4
    Senior Member
    Points: 615, Level: 12
    Level completed: 30%, Points required for next Level: 35
    Overall activity: 11.0%
    Achievements:
    Created Blog entryOverdrive3 months registered500 Experience Points

    Each state has its own laws and procedures on removing old trustees, electing new ones, etc... You must follow the rules of your state to do this.
    I am not a lawyer, this is not legal advice.

  5. #5
    Junior Member
    Points: 24, Level: 1
    Level completed: 47%, Points required for next Level: 26
    Overall activity: 99.7%
    Achievements:
    7 days registered

    In my state the probate code allows for beneficiaries to petition for a new trustee, but the trust language itself allows for an election and also says the laws of the state don't apply to it. Does anybody know if we can have the election, write the results down, and bring that to the bank where trust assets are sitting?


 

Similar Threads

  1. Replies: 0
    Last Post: 08-28-2011, 06:54 PM