Legal documents for a trust
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
Legal documents for a trust
My eldest brother is the Trustee of my mother’s Trust. There have been 2 amendments done to the Trust. A few years ago the trustee took a $50,000 loan from the Trust which he does not intend to pay back. He has agreed that the loan amount will be deducted from his share of the Trust when the shares of the Trust are distributed. His daughter is entitled to $10,000 from the Trust. She has taken $7,000 early and has agreed to have that amount deducted from her share of the Trust. Neither the $50,000 loan or $7,000 advance are included in an Amendment to the Trust. When I approached my brother to have an Amendment done showing these transactions he said he was insulted and felt that I didn’t trust him and that the changes to the Trust would be done when the Trust shares were distributed. He didn’t think anything needed to be put in writing. A few days later the Trustee agreed to sign a document that details his $50,000 loan and states that that amount will be deducted from his share of the Trust. He also drafted a document re his daughter’s $7,000 advance. Neither document has been signed by either party yet. Would these 2 documents he titled
Asked on October 2, 2017 under Estate Planning, Florida
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 6 years ago | Contributor
Please seek legal help in your area from an attorney that specializes in this area. A Trustee can not Amend a Trust. A Trustee administers a Trust. He or she can not alter its terms. A Trustee must file an accounting as to the administration of the Trust, generally yearly. The partial dsitribution should be noted in the accounting and geherally a distribution letter is sent out to all beneficiaries. Please go see some one on a consultation basis to make sure that you are protected here. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.