Duties of Trustee or violations thereof

[louran]

I have a friend in Michigan that is in need of clarification of a Living Trust in his mother's name. She is still alive and has not been declared incompetent. She has a daughter that has been listed as a trustee. Is the owner of the trust still able to change, modify, sell, buy as she deems fit or does a listed trustee on the account need to authorize and co-sign if the owner of the trust decides to do any of the above.

 

[ALawyer]

It all depends on the trust. USUALLY the creator reserves power to amned, and thus can in effect do what she wants, so long as she does it the right way. Also, she may be able to act singly IF the trust instrument allows her to do so -- it all depends on the trust itself and they vary all over the lot!