Legal Question in Wills and Trusts in Oregon
How soon must trustees act?
Is there a time limit in which the trustees must act. The person that is supposed to execute the trust has not done so. Do I need to act in a certain amount of time before the trust becomes void?
Asked on 3/26/04, 8:33 pm
1 Answer from Attorneys
Donald Scher
Donald T. Scher & Associates, P.C.
Re: How soon must trustees act?
If the person establishing the trust has not signed the trust agreement, there is no trust in existence, and therefore, there is no duty or authority for the trustee to act. The trustee cannot act before the trust is created and there are assets or property funded into the trust ownership. There is no trust until the trust agreement is signed by the trustor/grantor.
Answered on 3/27/04, 4:16 pm
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