Legal Question in Wills and Trusts in North Carolina
Revocable Living Trust
My uncle and aunt created a Revocable Living Trust. They named my father as the Successor Trustee if either one of them passed away and the other was incapacitated. My uncle passed in 2004 and my aunt has Altzheimer's Disease and is incompetent. My father became the successor of their Trust. I was named by my aunt and uncle to be the Successor Trustee in the event my father passed away. My father died this past week placing me in this position. My father had a Will naming my brother and myself as the beneficiaries of his estate. My brother is under the impression that even though I am now the Trustee of my aunt's estate, he should receive half of this once my aunt passes away. I was under the impression that because I am Trustee the monies would be controlled by me to determine to use it as I see fit. Can you help answer this for me?
1 Answer from Attorneys
Re: Revocable Living Trust
The trust document controls who benefits. As the Trustee you are responsible for fulfilling the terms of the trust or you can be removed as Trustee. A Trustee is a fiduciary position. You cannot decide unilaterally where the money goes "as you see fit" Whether or not your brother is a beneficiary depends on the trust document.
- Jeff
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