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Co Successor Trustees

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MichDeFe

Junior Member
What is the name of your state? Florida My sister and I are co trustees to our mother's Trust. We are equal beneficiaries, 50% each. However, she has taken more than half of the family heirlooms and furniture, and has dumped more than half of the responsibility on me. Responsibility such as: accounting, IRS filing, bill paying. I have asked her to pay me half the fair market value of what she took from the house, and for my fiduciary duties. She has refused. The house has not been sold yet, and I'm concerned she will take advantage of me further. When the house is sold will the check be made out in the name of the Trust or to one or both trustees? What options do I have? Do I have a right the demand 50-50, and to be paid for my work - I have keep a good accounting paper trail, and have given her all monies from CD's, etc. Is her behavior noncompliant toward the Trust? Can I put a lean on the property? Since I live out of state and she lives in Florida, I feel vunerable.
 


tranquility

Senior Member
Get an attorney and have the trust pay for him. Have the attorney defend the trust instrument. Be sure you want to do this as it will be expensive. The problems you state are only "self-help" problems if you can resolve them through negotiations with your sister. If not, the court will be required and it will be difficult for you to understand the arguments, let alone make them on your own.
 

MichDeFe

Junior Member
Thank you for your advice, but would you answer my question about the sale of the house. At closing, will the check be made out to the Trust, or to the Successor? This information will help me to decide my next step.
 

tranquility

Senior Member
It depends on the escrow instructions. To best protect the payer, he should have the check made out to both trustees. (Listing them as co-trustees of the trust.) But, being made out to the trust or to a single trustee is not wrong. That you think the answer to the question helps you decide your next step is problematical. It looks to me like *either* you or your sister is about to breach your fiducary duties to the other. I again advise you to seek legal counsel.
 

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