Legal Question in Wills and Trusts in Michigan
Can you lay out the role of a beneficiary? I am the trustee and one beneficiary is requesting to know what is in the bank acct so we know what we have to work with for repairs of house before I sell it, wants me to assign beneficiary as project manager to get quotes and manage repairs at a family cottage, wants me assign another beneficiary as project manager to get my mom's former primary residence for sale, etc. He is making things difficult. I have already sent the first annual acctg and will do another one after year end. Am I obligated to give him bank info or assign others to assist in the admin of the trust? We live in Michigan. I have been handling transferring of stocks, repairs at the cottage, cleanout of the house, etc. so it is not like I am not doing my job.
3 Answers from Attorneys
If the person is not a trustee, they have no say. If they don't like how you are doing the trustee job, they can file a motion in court to remove you. Very expensive task. Contact me to discuss further. Tim Klisz
As the Trustee you are in charge. The beneficiaries have rights to information about the assets. The trust document should disclose the details of the information required. Normally, you are not required to assign beneficiaries jobs or allow any of them to assist in the repairs or administration. In fact it may be a breach of your duty to other beneficiaries if you were to give one benefits or money over the others. Please contact me if you would like my help. 888-988-LAWS (5297) or [email protected]
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