Authority of a trust fund

[fyrbrd@peoplepc]

What is the name of your state?Iowa. I need information about an executors authority over a trust fund, this was set up when my Dad had no mental problems, now he has Alzheimers disease and does not always respond to issues or situations like in the past. One sister has executor privilege and another has power of attorney. The power stuggle has started and has split the family into equal parts, the one with the power of attorney is making decisions on her own i.e. taking my Dads license away and selling the truck, then putting the money into the trust fund. My main question is, should this esculate to the point the executor becoming the conservatorship of the trust fund, due the fact that my Dad did this trust well before his disease. And the sister that has power of attorney also works at the bank were some of the funds are located and seems to make all decisions without connecting with rest of us about the funds.Does she also have any right to do this without notifying anyone else in the family before any action?

 

[BlondiePB]

Ah, Squibblings....

My main question is, should this esculate to the point the executor becoming the conservatorship of the trust fund, due the fact that my Dad did this trust well before his disease. And the sister that has power of attorney also works at the bank were some of the funds are located seems to think she knows better what to do with funds.

Your question does not make sense, please rephrase it.

FYI, an executor is a person nominated in a decedent's will to probate the decedent's estate AFTER the person dies.

Conservator is someone appointed by a court to take care of a person and/or a person's property.

Trustee is a person that controls a trust.

Squibblings are squabbling siblings.

 

[rmet4nzkx]

It sounds as if the POA did the correct thing. As an AD patient, your father should not be driving and if you only take away the license, he won't remember, possibly go driving, hurt someone or himself, so selling the truck and depositing the funds was an appropriate option, one that at least doesn't favor one child over another child. AD is difficult on families no matter how the responsibilities are split and with the length and course of the disease, family splits are not uncommon. Now is the time to come together and quit the squabling.

 

[BlondiePB]

It sounds as if the POA did the correct thing. As an AD patient, your father should not be driving and if you only take away the license, he won't remember, possibly go driving, hurt someone or himself, so selling the truck and depositing the funds was an appropriate option, one that at least doesn't favor one child over another child. AD is difficult on families no matter how the responsibilities are split and with the length and course of the disease, family splits are not uncommon. Now is the time to come together and quit the squabling.

Good morning, Rmet. I agree that POA did the right thing. There's typically more going on in these situations.

 

[fyrbrd@peoplepc]

We have tried to talk like adults, it doesn't work out. This family has always fought. Also the doctor refused to sign the paper work and say's he is still capable to drive, and half of the family and friends agree. It is true that in the future he will need to have it taken away.

 

[seniorjudge]

What is the name of your state?Iowa. I need information about an executors authority over a trust fund, now my Dad has Alzheimers disease and does not always respond to issues or situations like in the past. One sister has executor privilege and another has power of attorney. The power stuggle has started and has split the family in equal parts, the one with the power of attorney is making decisions on her own i.e. taking my Dads license away and selling the truck, then putting the money into the trust fund. My main question is, should this esculate to the point the executor becoming the conservatorship of the trust fund, due the fact that my Dad did this trust well before his disease. And the sister that has power of attorney also works at the bank were some of the funds are located seems to think she knows better what to do with funds.Does she also have any right to do this without notifying anyone else in the family before any action?

Q: Does she also have any right to do this without notifying anyone else in the family before any action?

A: Yes, because that is what pa wanted and he put it in writing.

 

[BlondiePB]

Q: Does she also have any right to do this without notifying anyone else in the family before any action?

A: Yes, because that is what pa wanted and he put it in writing.

Agree. OP edited and added that question. From OP's second post, it looks like the squibbling will
continue.

 

[fyrbrd@peoplepc]

No Pa did not put it in writing. Does this need to go to probate?

 

[BlondiePB]

No Pa did not put it in writing. Does this need to go to probate?

Your father granted your sister a POA in writing. What sister did was perfectly legal according to the written POA document. There's nothing to probate.

 

[seniorjudge]

No Pa did not put it in writing. Does this need to go to probate?

Isn't the POA in writing?

 

[fyrbrd@peoplepc]

Here's who I am, not caring to get invovled with this squibbling(I know that it must be for squabbling siblings) I have nothing to gain from it, since I'm not in the will. All I'm doing is getting correct information from outside sources, and do not feel that I'm getting correct information from either sister. From what I'm being told about the will when it was set up before my Dad got AD, is my mother after death was first executor, then if she passed away the sister with executor and sister with POA is stated as being equal executors. I don't have all the correct facts yet since I just came back into this family's life after eight years of being execommunicated from them, I'm now wondering if it should have stayed that way. I need your help and not to be down-talked, thank you.

 

[BlondiePB]

Here's who I am, not caring to get invovled with this squibbling(I know that it must be for squabbling siblings) I have nothing to gain from it, since I'm not in the will. All I'm doing is getting correct information from outside sources, and do not feel that I'm getting correct information from either sister. From what I'm being told about the will when it was set up before my Dad got AD, is my mother after death was first executor, then if she passed away the sister with executor and sister with POA is stated as being equal executors. I don't have all the correct facts yet since I just came back into this family's life after eight years of being execommunicated from them, I'm now wondering if it should have stayed that way. I need your help and not to be down-talked, thank you.

No one here has talked down to you. Until a Will is filed in the probate court, the will is NOT public information. You cannot make anyone show you a will - even the testator. Your legal question about the POA was properly answered by both seniorjudge and me. Thus far, nothing in your situation is illegal or inappropriate.

 

[seniorjudge]

Here's who I am, not caring to get invovled with this squibbling(I know that it must be for squabbling siblings) I have nothing to gain from it, since I'm not in the will. All I'm doing is getting correct information from outside sources, and do not feel that I'm getting correct information from either sister. From what I'm being told about the will when it was set up before my Dad got AD, is my mother after death was first executor, then if she passed away the sister with executor and sister with POA is stated as being equal executors. I don't have all the correct facts yet since I just came back into this family's life after eight years of being execommunicated from them, I'm now wondering if it should have stayed that way. I need your help and not to be down-talked, thank you.

Where, in this thread, were you "down-talked"?

 

[Dandy Don]

POA has no authority doing ANY financial transactions regarding the trust unless she is also trustee.

The term executor only applies to the will, and the trust is a separate document which is handled by the TRUSTEE. So who is the trustee?

DANDY DON IN OKLAHOMA ([email protected])

 

[fyrbrd@peoplepc]

POA has no authority doing ANY financial transactions regarding the trust unless she is also trustee.

The term executor only applies to the will, and the trust is a separate document which is handled by the TRUSTEE. So who is the trustee?

DANDY DON IN OKLAHOMA ([email protected])

Thanks Dandy Don;

I will find out today, this is the type of information that I need, thanks again.