Q: Regarding a trust my parents set up; my father has passed. My mom has been deemed incapacitated.
Can the successor trustee(s) change anything wished by my parents. I am not being advised of anything even though I am a co-successor trustee and beneficiary. Can the successor trustee(s) do as they please, even though I am not being asked my to be involved in any of the decisions. Please help me understand this situation.
Thank you.
A: The answer to both of your questions will be written in your parents’ trust. Some trusts say successor trustees cannot change anything, other trusts say the successor trustees can change a trust if the law changes, and still other trusts have completely different terms. The same is true with respect to co-trustees. Some trusts say both co-trustees must sign all documents and other trusts say co-trustees can act independently. If you can’t read your parents’ trust, you should hire an attorney to interpret it into plain English for you. All the best to you.
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