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Re:Trustee discretion (1 viewing) (1) Guest
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TOPIC: Re:Trustee discretion
#6339
Lex (User)
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Trustee discretion 7 Years, 10 Months ago Karma: 0  
What checks and balances should the trust impose on the trustee when administering a trust for minors to make sure that the trustee doesnt misappropriate trust assets seeing as the trust administration typically doesnt receive any judicial oversight.
 
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#6364
Kash (User)
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Re:Trustee discretion 7 Years, 10 Months ago Karma: 1  
Give the trust beneficiaries to power to remove the trustee for cause or name a corporate co-trustee to act with the individual serving as trustee. Or better just, just name a corporate successor trustee who will act independently.
 
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#6389
jano (Moderator)
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Re:Trustee discretion 7 Years, 10 Months ago Karma: 0  
I agree with Kash. If you are worried that the individual trustee will act imprudently or mismanage the trust property, then definitely name a corporate trustee. Corporate trustees do charge annual fees, but so to do the individual trustees.
 
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#6400
Lex (User)
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Re:Trustee discretion 7 Years, 10 Months ago Karma: 0  
Thanks for your assistance
 
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skyline1241 (User)
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Re:Trustee discretion 7 Years, 3 Months ago Karma: 0  
jano wrote:
QUOTE:
I agree with Kash. If you are worried that the individual trustee will act imprudently or mismanage the trust property, then definitely name a corporate trustee. Corporate trustees do charge annual fees, but so to do the individual trustees.

me too
I agree with you
 
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