Legal Question in Wills and Trusts in Mississippi
removing or changing trustee of irrevocable trust
My husband is the beneficiary of an irrevocable trust that was at first under a bank as trustee. The bank resigned itself as trustee and he has let his sister become the trustee. We are not happy with the way she is handling it and wish to receive the money ourselves or let another person be trustee. The money is supposed to come to him in 2 years as designated in the trust. How do we go about doing this?
1 Answer from Attorneys
Re: removing or changing trustee of irrevocable trust
On 12/29/01 I received your msg posted 12/29/01. This response is not confidential and is based solely on the facts presented in your email. Also, it is not based on any supporting examination of the law. Instead, this response is based on my general experience, and resulting opinions. No attorney-client relationship is formed by this response.
Since the trust is irrevocable, your husband has no formal control over it. However, he might persuade his sister to do things differently or to transfer the responsibilities to someone else. I would suggest that you first get the help of an accountant or a financial advisor to hear what they suggest to mediate your most significant points of friction. Next, if friction involve something else, you might consider other mediators. If there is a breach of a fiduciary responsibility, seek the assistance of an attorney.
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