What to do if I have a trust that is for me but it requires 2 signatures?
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What to do if I have a trust that is for me but it requires 2 signatures?
I was advised that because my father wrote in here that he is a co-trustee along with my mother that he also had to sign consent on closing the trust. Is this true?
Asked on April 10, 2013 under Estate Planning, Massachusetts
Answers:
Victor Waid / Law Office of Victor Waid
Answered 11 years ago | Contributor
In order to close a trust, in other words disolve the trust, where you have cotrustees, and they are still alive, then it would take both signatures assuming the trust was revocable; however a cotrustee of an irrevocable trust could file a petition into probate court, with consent of the beneficiaries to close the trust, and the court would probably order the disolving of the trust , unless the cotrustee father could raise a valid objection.
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