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Trust Successor in MI

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Wonda

Guest
michigan. i am the trust successor for my mom's trust. the trust is to be divided quarterly between my three brothers and me. do i have the power to decide how much for what we should charge? (i.e. cars, home, assets in general.) once the decision has been made regarding such items, is it possible for anyone (of the recipients,) to dispute the amount(s) charged?
 


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loku

Guest
I assume when you say you are the “trust successor” that means you are the trustee. If that is the case, you have the responsibility for selling the assets and distributing them. However, if you do not use good business standards in the sale, you could be liable to the estate for a breach of your duty as a trustee. For example, if you sell an asset for significantly less than market value, your brothers could dispute that.
 

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