How much personal discretion over my trust fund do the trustees have?
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How much personal discretion over my trust fund do the trustees have?
My father passed last year, leaving me 2/3 of his estate, but in trust. He was putting my son through college (his idea), but made no provisions for him before his passing (he was terminally ill). The trust states that I am to receive a monthly payment,which I do. It also states that the estate is to make sure I have a place to live.There is language in the will apparently barring me from a cash advance, and the trust officer told me they will not help me with a place to live. My credit is poor from a failed business and not working (helping my dad). Is there anything I can do?
Asked on August 6, 2012 under Estate Planning, Rhode Island
Answers:
MD, Member, California Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
If you mean there is language in the will, the trustee has a fiduciary responsibility to make sure your father's wishes and the language in the trust/instructions are met. If you have language in the trust about locating a place to live for you, that is one thing. If it is simply about providing monetary payments, then it would be limited. You need to have a third party review the language of the trust and consider filing a motion in probate court to either replace the trustee or require the trustee to perform.
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