Login|Contact Us
Question and Answer

Estate Law

Ask an Estate Law Question, Get an Answer ASAP!

  • Ask A Question
  • Browse Answers
  • Meet The Experts
  • How JustAnswer Works

I am trustee of a trust. The trusts has no money, just real

 
JudgeLaw's Avatar
  • Answered by:JudgeLaw
  • Attorney
  • Positive Feedback: 97.5 %
  • Accepted Answers: 2252
Verified Expert
in Estate Law

Recent Feedback

Positive
I had a consumer matter that I needed advice on. I received immediate help and...
Positive
Quick, good answer. Thanks for the help
Positive
We are contacting a lawyer for Breach of Contract suit
Positive
thank you very much!
Positive
When I finally talked with Law Guy ,he returned the answers fast but it did take...
Positive
LawGuy answered my questions in a timely manner, and clarified what I needed to...
Positive
Type your review here...
Positive
Superfast reply
Positive
Very patient with all of the follow-up questions. I can't say I liked the...

Customer Question

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?

 

Optional Information:
Country relating to Question: United States
State (if USA): Nevada

Already Tried:
I acquired the position as trustee by a court order after the former trustee had failed to answer my petition to remove her.

Submitted: 293 days ago.
Category: Estate Law
Value: $25
Status: CLOSED

Accepted Answer

Picture
Expert:  JudgeLaw replied 293 days ago.

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.

Expert TypeAttorney
Category: Estate Law
Pos. Feedback: 97.5 %
Accepts: 2252
Answered: 7/18/2012

Experience: Over 25 years of practice.

Ask this Expert a Question >
 
Tweet

11 Estate Lawyers are Online Right Now

Ask Your Question Now
Estate Law Questions Date Submitted
Because of your great help before I am back with new questions.This 4/27/2013
Does a family trust that includes real estate need to be recorded 4/20/2013
PR-fvh 4/16/2013
BRITISH COLUMBIA Estate Law is what we need. My InLaws have 4/10/2013
In Washington State Estate Law which takes precedance regarding 4/6/2013
What penalty if any can be charged when property is willed 3/29/2013
Hi I have a few questions regarding family/estate law 3/25/2013
RA-sa 3/14/2013
My ex husband died a month ago. My step son was the trustee. 3/13/2013
I am the executor of my late husbands will in Maryland and 3/12/2013
RSS
Next 10 >
Ask an Estate Lawyer
Type Your Estate Law Question Here...
characters left:

Top Estate Law Experts

See More Estate Lawyers

In The News

Nbc
Washington Post
New York Times
Cnn
Learn More

How It Works

  • Ask an Expert
  • Get a Professional Answer
  • Ask Followup Questions
  • 100% Satisfaction Guarantee
Learn More
close
Find Expert answers related to your question.
Sign up using email
We will never post anything without your permission.
Already have an account? Sign in

Ask an Estate Lawyer

Get a Professional Answer. 100% Satisfaction Guaranteed.
210 Estate Lawyers are Online Now
Type Your Estate Law Question Here...
characters left:

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Truste
Contact Us | Terms of Service | Privacy & Security | About Us | Our Network
© 2003-2013 JustAnswer LLC
  • Pearl.com
  • JustAnswer UK
  • JustAnswer Germany
  • JustAnswer Spanish
  • JustAnswer Japan