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Personal Finance and Investing

Phoenix61

(18,267 posts)

6. How it's divided is a different issue.

Reply to FirstLight (Reply #3)

Thu May 11, 2023, 01:00 AM

May 2023

My parents had one. It was Dad and Mom then me then my brother. Royally pissed him off but..
So, my Dad passed, mom had advanced dementia. Letter from her doctor to all involved financial institutions and relevant page from the trust document and voila, I became the trustee.
It sounds like your sister is the trustee.

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Anyone here familiar with "Family Trusts"...? [View all] FirstLight May 2023 OP

The trustee is the person who makes decisions about the trust. Phoenix61 May 2023 #1

Everything is supposed to be "equal" as far as I know about the financial aspect. FirstLight May 2023 #3

How it's divided is a different issue. Phoenix61 May 2023 #6

Consult with an attorney who does trusts in your state. PoindexterOglethorpe May 2023 #2

ok...just wondering out loud... nt FirstLight May 2023 #4

Really, things like this are very complicated. PoindexterOglethorpe May 2023 #5

What Oglethorpe said. Captain Zero May 2023 #9

I agree Rebl2 May 2023 #11

Talk to your estate lawyer Thunderbeast May 2023 #7

I was told that if a Trust doesn't specifically prohibit something, then it's allowed. A HERETIC I AM May 2023 #8

It sounds like you're on good terms with your siblings nilram May 2023 #10