Legal Question in Wills and Trusts in California
living trust/ trustees- majority rule
Hello- my deceased parents have a living trust that that lists all three of us adult children as trustees. there is a clause that states that the trustees are by majority rule. We have had very poor communication with our brother who says he wants to resign from trustee due to legal matters but he has not. We do not know where he is and we cannot get a hold of him. The bank that is holding all of my parents funds will not release any on them because they say they need signatures from all three of us or they need his resignation in writing. In the meantime, my sister and I are paying all my parents bills and it is killing us financially. Can the bank do that? If the trust document says majority rule, should that be sufficient to allow us access to the funds?
1 Answer from Attorneys
Re: living trust/ trustees- majority rule
The trust should control, but banks tend to not understand trusts very well. You can either try to get in touch with their trust department and explain the situation to them or you may want to file with the Court and have him officially removed.
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