So my parents setup their will long ago such that none of us kids, except for our eldest sister, would get our inheritance until we were 55. Now to ensure the estate was handled properly and with little to no costs they made our eldest sister the only trustee. Since my mother passed away about a year ago, which caught us all by surprise, I am wondering if I can get myself setup as a co-trustee with only my father authorizing it? Does this document need to be presented to a notary republic, as in signed in front of him/her?
If the co-trustee is not an option can you give me a idea what I can do to protect myself and my young family?
Thanks in advance!!
The ability to change a trust established by will is limited to writing a new will with revocation of the old, and may not be possible at all once one of the trust grantors has died. Further, any effort you make to pressure your father to make a change that favors you could result in a challenge to the new will on the grounds of undue influence.
To get more information specific to your situation, consult with an experienced estate planning attorney.
I have changed deleted one of your tags for consistency with your question.
Best wishes for an outcome you can accept, and please remember to designate a best answer.
This answer is offered as a public service for general information only and may not be relied upon as legal advice.
I have been writing wills and trusts for more than thirty years, and I ALWAYS advise my clients to NEVER have only one individual trustee. Consequenty, regardless of the situation regarding you and your siblings, you should encourage your father to add at least one trustee, even if the new trustee(s) is/are not his child/children. I would expect for your father's attorney to give him the same encouragement and advice, but in any event, it would be a huge mistake to try to make any changes without having an attorney help him out.
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