If my mom has made me sole trustee of her living Trust, but is still alive, what does that mean and what am I able to do with the Trust?

Asked on August 8, 2015 under Estate Planning, California

Answers:

M.H., Member, California Bar / M.H., Member, California Bar

Answered 5 years ago | Contributor

I am having a hard time understanding your question.  Is your mom currently the trustee and you have been designated the successor trustee?  If your mother is the trustee, you simply don't have to do anything untill your mother either resigns as trustee, or is rendered incapacitated or deceased.  If you are the trustee right now, then you should get a copy of the trust to ascertain your duties and powers.  A trustee is a fiduciary to the beneficiaries of the trust.  You should clarify this with your mother. 
I hope I was able to answer your question.  

M.H., Member, California Bar / M.H., Member, California Bar

Answered 5 years ago | Contributor

I am having a hard time understanding your question.  Is your mom currently the trustee and you have been designated the successor trustee?  If your mother is the trustee, you simply don't have to do anything untill your mother either resigns as trustee, or is rendered incapacitated or deceased.  If you are the trustee right now, then you should get a copy of the trust to ascertain your duties and powers.  A trustee is a fiduciary to the beneficiaries of the trust.  You should clarify this with your mother. 
I hope I was able to answer your question.  


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