Q: Can a court appointed conservator appoint himself as succ. ttee on a valid irrevocable trust created years prior?
My friend's father had a valid trust naming his son as successor trustee & sole beneficiary. A prof fiduciary swooped in & was appointed as conservator, then immediately replaced the son with himself as succesor t'te on their trust which was created years ago. Is this considered ethical? Does he become trust administrator next? Seems like a huge conflict of interest
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A:
In general, it is not ethical for a court-appointed conservator to appoint themselves as successor trustee on a valid irrevocable trust created years prior. This action can be seen as a conflict of interest and raises questions about the conservator's intentions and motivations.
As a conservator, the fiduciary has a duty to act in the best interests of the person they are appointed to protect, and not to act in their own self-interest. Appointing oneself as the successor trustee on a trust where they have no prior relationship or interest can be seen as a violation of this duty.
Furthermore, appointing oneself as the successor trustee may not be legally permissible. The appointment of a successor trustee is typically governed by the terms of the trust document and any applicable state laws. If the trust document specifies that the successor trustee must be a certain person or type of person, the conservator may not be able to appoint themselves without violating the terms of the trust.
It is important for your friend to consult with an experienced trust and estate attorney who can review the specific details of the case and advise them on their legal options. If the actions of the conservator are found to be unethical or in violation of the law, your friend may be able to take legal action to protect their interests and the interests of the trust.
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