What to do if the trustees of a Trust are saying that they can alter the Trust to their liking because of an alleged side agreement with the Settlor?

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What to do if the trustees of a Trust are saying that they can alter the Trust to their liking because of an alleged side agreement with the Settlor?

This alteration will redirect 2/3 of the specified distribution of each beneficiary into a fund to take care of expenses for two people not named as beneficiaries of the listed assets. Is this legal for the Trustees to do? They have also been using the deceased Settlor’s personal credit cards. They are redirecting (stealing) around a half million dollars. What options do I have? The Trust became irrevocable upon the death of the Settlor.

Asked on May 18, 2014 under Estate Planning, California

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

You need to seek legal counsel as soon as possible to act on your behalf (maybe get the other beneficiaries involved as well).  You need to have the attorney file a Petition in court regarding the alleged breach of fiduciary duty and possible dissipation of trust assets.  You need to shut down this Trustee asap.  Good luck.


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