What is a trustee’s authority over a beneficiary?
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What is a trustee’s authority over a beneficiary?
My sister is the trustee of my mother’s account for 10 years; after that time it is mine. In the meantime she’s to provide for me since I have health problems and can’t work.s However, she is demanding access to my checking, savings and credit card accounts. She said if I don’t give her access to these accounts (password, etc.), she will not give me my monthly amount. It says nowhere in the Will that she needs that information. Also she knows my monthly expenses and how much I need to survive and it isn’t $3000 a month. I am afraid she is g going to take all my money. What should I do?
Asked on June 16, 2014 under Estate Planning, Georgia
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 9 years ago | Contributor
You should speak with a lawyer in your area about removing your sister as Trustee because she sounds like she is breaching her fiduciary duties. From what you have written here it sounds as if your sister is over reaching what she thinks is her right as Trustee and trying to hold the money hostage from you if you do not comply. If your personal accounts are not part of the Trust that she presides over she has no right to that information. Good luck.
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