Legal Question in Wills and Trusts in Maryland

A trust was established for a minor after the death of a parent. The trustee appointed to administer the trust resigned and elected another to be trustee. The new trustee immediately withdrew between 50-90% to give themselves a mortgage on their own home out of state. The trustee is not a beneficiary of the trust and the minor child for whom the trust was established is not a resident of the home. What legal authority should be notified?


Asked on 6/14/11, 9:17 am

1 Answer from Attorneys
Richard Abraham Abraham & Bauer, LLC

Self dealing by Trustees is generally not allowed. Doing so is a breach of the fiduciary duty owed the Trust beneficiaries. If you need further assistance feel free to call

Read more
Answered on 6/14/11, 9:34 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Maryland