Q: Is a CA trustee allowed to transfer funds to a nominated third party account, when directed in writing by the beneficiar
My request is to wire transfer via intermediary business American Express International account, who has an arrangement with my local bank outside of the USA to process all intl transfers for its bank customers.
A: Generally, a California trustee has the duty to manage and distribute trust assets in accordance with the terms of the trust and the beneficiaries' interests. If the trust instrument allows the trustee to make distributions to third parties, then the trustee may be able to transfer funds to a nominated third party account as directed in writing by the beneficiary. However, the trustee should exercise caution to ensure that such transfers are consistent with the terms of the trust and the fiduciary duties owed to the beneficiaries. It is recommended that the trustee consult with an attorney experienced in trust law to ensure compliance with all applicable laws and regulations.
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