Legal Question in Wills and Trusts in Colorado

Trusts

As sole trustee for my GD's trust account (which I set up) can I take some of those funds and invest them for her? Do I simply name the investment the ''ABC trust?''


Asked on 8/19/08, 12:41 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Trusts

Surely the trust document answers this question. The powers of the Trustee are always set forth in a properly-drafted document. With authority you may invest the trust funds if you do so responsibly, not taking undue risks, and doing so in a manner which benefits only the beneficiary whose interests you must protect.

Read the document. If it does not provide powers to the Trustee to invest the assets, better get it amended so it does, otherwise your power to invest remains in question. Not good.

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Answered on 8/19/08, 2:31 pm


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