I am trustee of a trust. The trusts has no money, just real property with a small rental income. The trust is not sufficiently funded yet. I would like to loan some money to the trust for operating expenses. The trust allows the trustee to "To borrow money for any reasonable Trust Estate purpose from any lender". With that language in the trust, is it ethical or proper for me to loan the trust money?
Country relating to Question: United States
State (if USA): Nevada
I acquired the position as trustee by a court order after the former trustee had failed to answer my petition to remove her.
Thank you for using Just Answer. If you require clarification, please feel free to post a follow up question.It is not ethical for you to loan the trust money, as the trustee. It creates a potential conflict of interest.
Over 25 years of practice.
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