A person who was the trustor/grantor for a revocable living trust has died. Can the successor trustee use funds from the trust bank account to improve a house that is also in the trust or does all such activity have to stop after the trustor dies?
In most cases, the trust document will give the successor trustee wide latitude maintain or improve trust property. The trustee is liable for the misuse of any funds. Hopefully the successor trustee has legal counsel.
Agree with Mr. Gould. Whether the Trustee has authority to improve real estate depends on the powers granted in the trust document. But, in most cases, the trust document would grant this authority.
Ms. Willi is a tax attorney, CPA, and Ohio-Certified Specialist in Estate Planning, Trust & Probate Law, with offices in Westerville, Ohio. She serves client families and private business owners throughout Ohio. Ms. Willi responds to Avvo questions as a public service to help educate and provide general guidance to questioners, but her responses are not legal advice and do not create an attorney-client relationship. Her posts are provided for informational purposes only and are not a substitute for advice provided by an attorney or licensed tax professional. Her phone number is 614-890-0500 and her website is www.willilaw.com.
I agree - look to the trust document for authority to do so. I would be surprised if the activity you suggest is prohibited.
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