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I have a quick question. I sent in a letter asking a

corporate trustee to resign with...
I have a quick question. I sent in a letter asking a corporate trustee to resign with a host of reasons on Friday March 2nd. Then asked for an update by email on friday march 9th. I still have not heard anything. Is this typical?
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Answered in 4 minutes by:
3/13/2018
LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 13,647
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
Verified

Hello! I will be reviewing your question and posting a response momentarily; if you have any follow up questions please respond here. Thanks!

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Normally when a trustee is asked to resign it is a good idea to put a response date on the letter, stating that if the trustee fails to respond by such date (usually 5-10 business days) the requesting party will file a petition with the court requesting the court to remove the trustee and appoint a successor trustee. There needs to be valid grounds to do so in most circumstances unless the trust gives the beneficiary the absolute right to determine the trustee.

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Customer reply replied 4 months ago
Actually a resigned trustee appointed them so not sure it holds all that much weight. They did confirm the day sent that they received, but for them to take this long, not sure how I am interpreting it. He said he had to take it to a committee last week and it snowed heavily there mid week. so trying to factor that in but I did email on Friday for an update and its now tues. So I hate feeling worried and anxious about this. I am not sure that if its taking a while is a bad sign or good sign?

The appointment's validity would depend on the terms of the trust. Some trusts specify that a trustee that is resigning may nominate their replacement.

You can always contact them and ask when the committee will convene as it is possible it was canceled due to the weather.

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Customer reply replied 4 months ago
True.

The contact may also ask for a response by a certain date, mentioning that if a resignation will not be forthcoming the requesting party will petition the court accordingly.

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Customer reply replied 4 months ago
How is it that a company can pick someone, they can pick themselves...that doesn't make sense or they can pick another crappy company. Seems strange to me.
Customer reply replied 4 months ago
The resigned trustee who breached her duty picked them.

It really comes down to the terms of the trust and what authorities it gives the trustee as for appointment.

The heir can always challenge the nomination.

The challenge can be based on the former trustee's lack of authority, or on the unsuitability of the proposed successor.

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Customer reply replied 4 months ago
Also her decision making lacked which drove her out in the first place. She made alot of bad choices, including this company, but she has already resigned legally and we didn't hold her liable for anything but that doesn't really matter?
Customer reply replied 4 months ago
Also, if they don't resign, can my son whom is almost 18 claim "incapacitated" as a minor. So many decisions were made when he had no control over situation and we feel he was taken advantage of. His father's Will is very far away now from the original intentions he had for him. Beneficiary has rights. All we want is for it to be moved back to the broker and trust that originally had for him for 26 years.
Customer reply replied 4 months ago
you still there?

Yes, one moment please

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A party can be liable for negligent referral but they need to have knowledge that the person is incompetent to serve so that is difficult to prove.

Also an heir has a duty to mitigate so if they knew the proposed trustee was not qualified they would generally need to challenge that nomination.

The former trustee may still be sued if their negligence or misconduct caused financial harm to the beneficiary.

The last post- I'm not sure I understand; are you asking if the minor can claim they are incapacitated and thus tolling the statute of limitations for bringing a breach of fiduciary duty against the trustee?

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Customer reply replied 4 months ago
No, people that are considered incapcitated will administering certain things. A child is considered that legally. They can be taken advantage of. Since he was a minor he wasn't informed of alot of things that in our opinion go against his fathers wishes for him, so it is unfair to him and also unjust.

Yes, a child does not have legal authority to contract, to sue or to be sued which is why the statute of limitations is tolled during minority.

The trustee does have a fiduciary duty to the heir regardless of age, and if the trustee is not in compliance with the will that is deemed a breach of fiduciary duty which justifies court removal.

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Customer reply replied 4 months ago
Wait, I'm not sure I understand what you mean. I said when he turns 18 he can then claim that he was a minor and had no control and now can read his fathers will for himself and see that alot of damage was done and can sue that he wants this company removed and assigned back to the broker his father had.
Customer reply replied 4 months ago
Not sure also what you mean, the trustee resigned already because she was afraid of being sued after she choose this crap company. not sure what you mean.

Thank you for clarifying; yes, the minor may petition the court for removal, and a copy of the will when they reach 18. A parent or legal guardian may also petition during the child's minority.

A former trustee can be sued if they were in breach of the fiduciary duty as well.

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Customer reply replied 4 months ago
but she just had the judge sign all kinds of paper work, forget what it was called ensureing that she wouldn't be sued. I think. I know she had the lawyer draw that up. But those docs doen't mean anything, we can still sue her?

If it is a release then generally that would preclude a lawsuit but the release would need to be reviewed to see if it is binding.

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Customer reply replied 4 months ago
But even if we don't sue her, either guardian or beneficiary can present situation to the Judge with everything gone astray and request that it can be returned back to the grantors intentions. I would think that is what a court would lean towards for the beneficiary no?

Yes, absolutely. The court will enforce the terms of the will as the whole purpose of the will is to ensure that the decedent's wishes are followed.

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Hello; just checking in on the above.
If you have further questions please post here and I will do my best to get you the requested information.
Otherwise
kindly rate positively (hopefully you feel I have earned 5 stars) to help maintain my high customer satisfaction score and so I know you were satisfied with my services.

The above information is for educational purposes only. An attorney in one's jurisdiction can be located at https://www.americanbar.org/groups/legal_services/flh-home.html
Thank you.

LegalGems
LegalGems, Attorney
Category: Estate Law
Satisfied Customers: 13,647
Experience: Private Practice; Elder Law Attorney; Estate Planning; Attorney Mentor
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LegalGems and 87 other Estate Law Specialists are ready to help you
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Customer reply replied 3 months ago
I saw that you answered a question of my this morning and I ask for a refund before I got your response so I reposted it. I didn't get to see your response.

I'm working on it now; I had posted right when the question was closed; so I need to relocate the resources and retype.

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