What are my rights as trustee?

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What are my rights as trustee?

I am sole trustee of a Trust created by my parents. My father passed away last year and my mother was the default trustee. Since she is elderly, we agreed that I would be the trustee. We did all of the work with the attorney and have the legal papers/codicil, etc. Their financial advisor insists on speaking to my mother whenever I make a request of any kind. She says she just has my mom’s best interests in mind. My mother lives with us and we take care of all of her needs. Does the financial advisor have a right to question me or resist my requests?

Asked on November 10, 2017 under Estate Planning, Colorado

Answers:

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

Answered 3 years ago | Contributor

What the financial advisor is worried about is that there could be undue influence over your Mother or that she does not have the capacity to make decisions.  However, if you are now the Trustee and all documents have been filed and no one has contested same, the advisor should not be asking your Mother.  Perhaps it is time to get a new one.


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