What is the name of your state? Trust is in MI
As beneficiaries, my sibling and I have filed a petition with the court to request that my brother be removed as Trustee due to a lack of (fulfilling?) fiduciary responsibilities. I imagine this procedure often becomes a wake up call causing the Trustee to take care of an estate like he should have in the first place. During the process of petitioning the court, if the Trustee suddenly paid the delinquent taxes/lapsed insurance and any other unpaid bills, what will the judge do? Is there a chance that the judge will see that the Trustee has made an attempt after 4 years to finally take care of the estate and drop the case?
Another question: The Trust stipulates (in other words) that if any of the beneficiaries want out of a portion of their share of the property, then the Trustee has to see that it happens. No attempts have been made to sell or 'buy out' shares of the property - it hasn't even been discussed by the Trustee since he knew we wanted out 4 years ago. How obligated are we for paying the taxes and upkeep including electricity, phone, etc.. on property that we don't want? A portion of the funds (that equally belongs to the beneficiaries) has been set aside to take care of taxes, insurance, etc.. Do the beneficiaries have a right to expect reimbursement for unwanted property expenses? I know we'd have an obligation with the cost if we wanted to keep the place and I expect there has to be a reasonable amount of time allowed for the Trustee to work out an arrangement. Any opinions?
As beneficiaries, my sibling and I have filed a petition with the court to request that my brother be removed as Trustee due to a lack of (fulfilling?) fiduciary responsibilities. I imagine this procedure often becomes a wake up call causing the Trustee to take care of an estate like he should have in the first place. During the process of petitioning the court, if the Trustee suddenly paid the delinquent taxes/lapsed insurance and any other unpaid bills, what will the judge do? Is there a chance that the judge will see that the Trustee has made an attempt after 4 years to finally take care of the estate and drop the case?
Another question: The Trust stipulates (in other words) that if any of the beneficiaries want out of a portion of their share of the property, then the Trustee has to see that it happens. No attempts have been made to sell or 'buy out' shares of the property - it hasn't even been discussed by the Trustee since he knew we wanted out 4 years ago. How obligated are we for paying the taxes and upkeep including electricity, phone, etc.. on property that we don't want? A portion of the funds (that equally belongs to the beneficiaries) has been set aside to take care of taxes, insurance, etc.. Do the beneficiaries have a right to expect reimbursement for unwanted property expenses? I know we'd have an obligation with the cost if we wanted to keep the place and I expect there has to be a reasonable amount of time allowed for the Trustee to work out an arrangement. Any opinions?