Estate Law Questions? Ask an Estate Lawyer.
Hello and welcome! My name is ***** ***** I will try my level best to help with your situation or get you to someone who can.
Can you tell me what state you are in? (LA?)
Who is the trustee of the trust?
Does the trust give father the right to have the trustee sell trust assets for his expenses?
What it the stated purpose of the trust? (support father and then pass to children?)
What does the trust state about when it is to terminate and the assets be disbursed?
Ok, if you are the trustees, then you need to review the trust to see what powers father as a beneficiary has to the assets. A usufruct is basically a "life estate" where the beneficiary has the right to use the assets in the trust for a certain time, usually their lifetime. Then once their time period for use expires, the assets then transfer to the "remaindermen" and they become the sole owners.
Whether father has the right to force the trustee(S) to sell assets and what he is allowed to do with them would be in the trust itself. If it is a typical trust, then he has the right to income from the trust to use for his lifetime, but couldn't force the sale of assets unless there was some serious occurrence, like a health issue. This assures that he has the right to use the income, but not deplete the assets so that they can transfer to the remainder beneficiaries (i.e. you and brother) when father dies.
So to know for sure, you really need to review the trust to see what father's rights are.
Sure, the question will remain open for you to upload the trust tomorrow....