Q: I am the remainder beneficiary of a trust created by my father. Am I legally responsible for maintanace on the house?
The problem is that my father gave my step mother ( they were married for a year and he committed suicide) the right to reside in the house until she dies, remarries or moves out. She is responsible per the trust for taxes and homeowners insurance but not upkeep or maintenance. However there is no money left in the trust to pay for this maintenance, according to my cousin who has decided to step down as trustee. No one else wants to be trustee and I am supposed to appoint a successor trustee according to the trust. If there are no more funds and I am forced to become the next trustee, do I have to pay for the maintenance or is the fact that there are no funds in the trust mean that my stepmother must now upkeep the house???
A: You don't have to pay. But if maintenance is not done, then the house will fall into disrepair. As beneficiary, you could go to court to force the trustee to maintain the property. The trustee could take out a loan on the house to pay for it. Use the Find a Lawyer tab to retain a local attorney who handles trusts to review the situation and advise you.
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