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Is it true that bad things happen when a trustee does not obey the trust deed?

Port Orange, FL |

Trusts

Attorney Answers 4

Posted

I am not sure what you mean by "trust deed". I am assuming you mean the trust document. That being said, a trustee is generally obligated to follow the instructions in the Declaration of Trust. Sometimes the instruction are not clear, may be illegal, may create a conflict of interest, or may have been modified by state statutes.

All of that being said, bad things could happen if a trustee does not comply with their obligations if someone is damaged. You should review your specific situation with a lawyer who is licensed where the trust is being administered to determine what rights or obligations you have.

My comments are not intended to establish an attorney-client relationship, are not confidential, and are not intended to constitute legal advice. Proper legal advice can only be given by an attorney who agrees to represent you, who reviews the facts of your specific case, who does not have a conflict of interest preventing the representation, and who is licensed as an attorney in the state where the law applies.

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Asker

Posted

My father in law told me his father has a trust. They neglected to tell me for over 18 years of marriage to my wife because i believe my wife is the main beneficiary. My father in law also never told me when the trust money goes to my wife. I believe there will be some monkey business when the trust money does go to my wife.

David Michael Goldman

David Michael Goldman

Posted

If you wife's grandfather setup a trust that names your wife as a beneficiary, then she should have a right to know about it (if her grandfather has died). If her grandfather is still alive, then her grandfather is probably the beneficiary during his own life. Without looking at the documents there is really no way of knowing what rights she may have. She should probably ask her father or grandfather about the trust and then, if interested, should consult with a trust lawyer to see what her options are.

Asker

Posted

I believe the trust is a secret. The grandfather died when she was 3. She is now 41. The now deceased grandmother was divorced to him and i know she does not like a women(my wife) getting the bulk of the fortune instead of her grandson. But my wife was born first.

Asker

Posted

Funny story my wife grandmother fought a 10 year divorce to her grandfather in the 1960s. He didn't have a dime to his name. She finally gave him divorce. 1970 the grandfathers mother died and left him over 750k. This is where the trust comes in. I know the money has been compounding ever since. The grandmother was pissed when he got that money and thats where the monkey business comes into play with her sons.

Posted

The trustee that does not follow the instructions in the trust could be liable for criminal actions if the actions benefit the trustee or related parties.

The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.

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Posted

I am ready with the police and FBI if the trustee does not follow that trust deed to the exact words.

Posted

Q: Is it true that bad things happen when a trustee does not obey the trust deed?
A: Yes. Terrible things.

This is not legal advice. I am not your lawyer. You are not my client. You cannot rely on my response to your question. My response to your question is probably worth exactly what you paid for it. You don't get to sue me for anything. If you'd like to sue me, well you have to hire me first. Here's how you can hire me! #1 Call: 1-888-463-2843 #2 Email: david@davidcarrierlaw.com #3 See me on TV! www.woodtv.com - go to the Ask the Expert tab! #4 Listen to my radio show (2 full hours every week!) www.woodradio.com - go to the podcast section.

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Posted

My wife's grandfather knew his kids could not be trusted. So he put them in a trust and lets say they keep betraying him and the outcome keeps getting worse. I wish i knew when the trust ends. The trust is a total trap for his kids. They think since their father is gone they can do whatever.

Posted

I agree with Attorney Carrier, bad things happen when the Trustee does not do what he or she is supposed to. I also agree with Attorney Pippen that the Trustee may be charged with criminal acts. The real problem for the beneficiaries when a Trustee steals, is that the Trustee usually spends all the money and there is nothing left for the beneficiaries to receive.

The contents of this answer should be considered friendly advice, not legal advice and the answer should not be construed to constitute an attorney-client relationship. If you'd like actual legal advice, call me at 954-567-4100. Also, if you liked this answer did, be sure to click the thumbs-up button

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Posted

I believe the trust is a giant trap for his sons. My wifes grandfather made sure to give my wife a box with her name with the golden ring in it with family initial on it. She was only 3. The grandmother when she was alive would talk over my head about the trust why did her ex husband give it to her instead her grandson who was born next. I think their going to try to get some money towards him. It sure is fun waiting for the outcome.

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