Legal Question in Family Law in Utah
We live in Utah, my dad has a trust and is now incapcitated and I am the Trustee. One of the beneficiaries of the trust has stolen money from the trust. The trust has no provision for penalty. Are there any penalties by law that can be applied to the theif... such as removing them as a beneficiary?
2 Answers from Attorneys
If you are the Trustee of the trust, you have what is called a fiduciary duty to protect and properly manage the assets of the trust. If a beneficiary of the trust has actually committed theft, you would have the duty and responsiblity of bringing legal action against that individual, on behalf of the trust, to recover the property or money which was stolen.
The trustee acts in the same role as the creator of the trust, here your dad. He has the right to sue to recover his property, and now you have that right. You also have the obligation to protect the other beneficiaries, so you must bring an action to recover the stolen property. If you have any other questions you may call for a free consutlation,