Legal Question in Wills and Trusts in Colorado
revoke mother from trustee responsibility
my boyfriend inherited from a substancial amount of money from his grandfather over 7 years ago. His mom made him sign over to her the responsibility to manage the money and estate when he as 21 years old. He does not have copies of the documents he signed to give her the control of the fund. He does not know if it was a power of attorney or another document through which he made her the trustee of the fund until (so she says) he is 35 years old. He is now 27 and would like to be in charge of the fund himself. He has a very conflictual relationship with his mom and she's not complying with his request to make certain transactions with the fund. Is there a way she can be summoned to produce the documents that he signed years ago ? Does the bank who holds the fund have the documents? Can he obtain copies from the bank ? If not, what are his options to try and find out 1) the status of the fund 2) revoke his mother from her function as a trustee?
2 Answers from Attorneys
Re: revoke mother from trustee responsibility
Whether it is a trust or a power of attorney, your friend has a right to have the trustee or agent provide him with a copy of the document. If his mother continues to refuse, he may need to file a petition in the probate/district court to obtain an order. If it is a trust, the document will say whether he can replace the trustee and how. If it is a power of attorney, he should simply be able to revoke it.
I have a feeling this is a trust and that it is irrevocable. If so, Colorado law requires that it be registered in the probate/district court where it is being administered. That is the court where any petition or motion must be filed.
He will also have the right to an accounting. All he should have to do is demand one (preferrably in writing). If the trustee is mismanaging the funds or fails to provide a copy of the trust or an accounting, this may be grounds to have the trustee removed.
I suggest that your friend contact an attorney to assist with this. I will be happy to help if I can.
Re: revoke mother from trustee responsibility
Your questions are being asked by the wrong person. It is your boyfriend who should be asking these questions.
Beyond that issue, your boyfriend should immediately engage the services of a qualified trust and estate attorney not seeking his business over the internet.
This is important because there are time limitations that may be relevant to any investigation or claims that he may have concerning his Mother's actions. He should be advised not to delay in seeking advice from competent counsel.
Next, a careful reading of the trust document is required. It is not uncommon for a well-drafted trust to include provisions allowing a beneficiary the right to remove and replace a trustee under various circumstances. Whether such provisions exist is part of what the lawyer can assist with.
Finally, these questions are complex and legal in nature. Your boyfriend should not attempt to investigate or take legal action with legal consequences on his own.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
