Estate Plans often incorporate revocable and irrevocable trusts. Regardless of the type of trust created or the reason for its creation, naming a suitable trustee to administer the trust requires careful consideration. After all, the trustee acts as the gatekeeper for the trust, doling out distributions pursuant to the terms of the trust agreement using their discretion. While some grantors name beneficiaries to serve as their own trustees, certain circumstances require a third party to act in that capacity. Beneficiaries of trusts with someone other than themselves as trustees need to understand their options when their relationship with the trustee sours. The first part of this two-part series ( What Happens When You Don’t Trust Your Trustee – Part I) reviewed some of the options that beneficiaries use to rid themselves of an undesirable trustee. This second part will conclude that exploration. Click To Read More…
