intended for him to make a reasoned judgment about proposed distributions, or to inquire about the beneficiaries' needs? Is it considered a breach of the duty of loyalty if a trustee says he is never going to make discretionary distributions?
The trustee needs to administer the trust by its underlying trust agreement. The beneficiary does not control distributions or direct the actions of the trustee's administration of the trust. With this being said, a trustee's discretionary decision must be in the best interest of the trust and beneficiary. If the trust has more than one beneficiary, the trustee cannot favor one beneficiary over the other except for extenuating circumstances that are allowed by the trust terms. Again, discretionary decisions are not mandatory and a trustee does not have to take action. Because you have questions, you need to talk to a local attorney about your rights as beneficiary and the duties of trustee.
This answer does not represent an attorney client relationship nor attorney client privileges
The answer to this question depends on the language used in the trust. Generally, absolute discretion is just that - absolute discretion. It is possible that there is some limitation to this absolute discretion spelled out in the trust, but without seeing the actual trust document, no attorney could provide you with an exact answer.
This answer is not considered legal advice and does not establish a client-attorney relationship. Furthermore, to ensure compliance with certain regulations promulgated by the U.S. Internal Revenue Service, we inform you that any federal tax advice contained in this communication is not intended or written to be used, and cannot be used, by any taxpayer for the purpose of (1) avoiding tax-related penalties under the U.S. Internal Revenue Code, or (2) promoting, marketing or recommending to another party any tax-related matters addressed herein, unless expressly stated otherwise.
Hi there, please take the documents to a local attorney for review and advise. He or she will then be able to gather the appropriate facts and then advise you pursuant to trust documents' terms. Good luck.
Answer given for general advice and is not a legal opinion, which would require an analysis of the facts and circumstances as well as the applicable law and regulations.
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