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refolkable trust get recorded? What...
Still having problems, like to talk again does the refolkable trust get recorded? What mechanism is there to give benefiaries a voice in the process. Can trustee use trust money to defend his position? Trust says the trustee works for free which is dumb but that's what it says and he has paid himself we know of 10,000 My number is(###) ###-####or my wife's is(###) ###-####hope to here from you. ***** *****
Submitted: 2 years ago.Category: Estate Law
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Answered in 1 hour by:
2/1/2016
Estate Lawyer: Law Educator, Esq., Attorney replied 2 years ago
Law Educator, Esq.
Category: Estate Law
Satisfied Customers: 125,233
Experience: Experienced in Trust and Succession Law, including Louisiana Laws
Verified
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
The revocable trust does not get recorded anywhere, nor does an irrevocable trust. It is a contractual agreement between a grantor and beneficiaries. The beneficiaries have no say in the trust unless the trust document says they do. The trustee has the sole discretion to manage and run the trust as they see fit. If the trust says the trustee works for FREE, they cannot take money out and in that case the beneficiaries have a right to sue for breach of fiduciary duty of the trustee because the trustee cannot act contrary to terms of the trust and they can make the trustee return money he paid himself and also get him removed as trustee and a new trustee appointed, this is a right of any beneficiary to pursue and they would need to hire a local attorney to represent them to pursue the removal and reimbursement.
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