Legal documents for a trust
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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
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 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.
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