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Is the court appointed fiduciary that is now estate conservator also the trustee of the estate?

San Jose, CA |

He has been signing as the conservator of the estate and person. Also the estate trustee. Is this to be correct.

Attorney Answers 4

Posted

It depends on the terms of the trust agreement and the court order. Generally, a revocable living trust also designates a successor trustee who will assume that position upon the death of the original trustee or settlor. If there is no contention with respect to estate distributions, if the trust was valid, and if a successor trustee was named, there would likely be no reason for a court proceeding. So, the fact that a court appointed a conservator suggests that there was an issue with the estate. A conservator and trustee may have the same functions or different functions; in this case, it depends on what the court order stipulated. The court could have discharged the successor trustee - if there was one - or could have appointed an additional fiduciary. I suggest you consult with a local probate attorney who can explain the order and its application to the estate.

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Posted

Not sure what you mean. If there is also a trust, the must remove the prior trustee and appoint the conservator as successor trustee. Not uncommon but they are separate proceedings and issues.

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Charles Adam Shultz

Charles Adam Shultz

Posted

As ms. Elliott points out the person may have been named in the document as successor trustee and became trustee upon incapacity of the settlor under the terms of the trust

Posted

If a trust existed-the successor trustee would be the trustee of the trust and the the court appointed conservator would be in charge of other assets as directed by the court.
The conservator should have an attorney to assist and also the successor trustee if a different person.

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

It is hard to determine what estate planning documents we are dealing with as related to your brief factual statement. From best I can determine the court appointed a professional fiduciary to serve in the capacity of the administrator of the estate. When you speak in terms of a trustee you raise an issue if there is a Living Trust or some other Trusts involved. Your facts are far too limited for any real definitive comment.

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