Legal Question in Wills and Trusts in Virginia
How are terms of a living trust enforced?
If the provisions of a living trust are not reviewed by a court, how is such a document enforced? Is it left up to the executor alone to fulfill its provisions? Thanks.
1 Answer from Attorneys
Re: How are terms of a living trust enforced?
You used the word "executor," but an executor relates to a Will and not a trust. With a revocable living trust, the creator of the trust is usually the original trustee (also known as the grantor and settlor). When he dies, there is a back-up trustee, known as the "successor trustee." First of all, you would not pick a successor trustee whom you did not trust. Secondly, if the successor trustee did not carry out or fulfill his duties as trustee, then the beneficiaries would be able to petition the circuit court and make the successor trustee render an accounting. An attorney can give you more details about this.