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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] Control mechanisms over a trustee... Posted by Ward-CA- on June 30, 2003 at 4:18 PM In Reply to: Tripwires posted by SeanW on June 30, 2003 at 8:37 AM : : : What you need are some early-warning trip wires [in your trust] and a back-up transfer deed. : ------------------------ : Ward, what would be some examples of tripwires? : Also, the standard language of the trust says communication with the trustee can be orally or in writing. Should all trust communication to the trustee be in writing? : How would I handle a situation where I want to sell something, when my trustee is unavailable? Would a POA from the trustee work, or would I need to substitute myself as trustee-- (therefore causing me to lose the privacy that I had been trying to preserve.) : Thanks in Advance, Sean -=-=-=-=-=-=-=-=-=-=-=-=-=- Sean, If your trustee is a pro she will want her file copies of the trust paperwork she processed on your behalf. So most of it will be in a written format to facilitate copying. A trustee cannot delegate her fiduciary powers to someone else. So she can't give another party a POA to wield her trustee powers in her stead. If your trustee is likely to be unavailable from time to time then I'd have two co-trustees with equal independent powers of serving you as trustee. And you should have a back-up deed that acts to transfer the trusteeship from your current trustee to a successor trustee. That way, you the trustee, won't have to public when switching your trustees around. Follow Ups: Re: Control mechanisms over a trustee... jenv 1:52 AM, 07/01/03 (4) Control mechanisms over a trustee... Ward-CA- 11:41 PM, 07/03/03 (2) Re: Control mechanisms over a trustee... jenv 1:44 AM, 07/04/03 (1) Don't give the "criminally inclined" that much credit... Ward-CA- 11:51 AM, 07/04/03 (0) Re: Control mechanisms over a trustee... SeanW 6:33 AM, 07/01/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : : : : : What you need are some early-warning trip wires [in your trust] and a back-up transfer deed. : : ------------------------ : : Ward, what would be some examples of tripwires? : : Also, the standard language of the trust says communication with the trustee can be orally or in writing. Should all trust communication to the trustee be in writing? : : How would I handle a situation where I want to sell something, when my trustee is unavailable? Would a POA from the trustee work, or would I need to substitute myself as trustee-- (therefore causing me to lose the privacy that I had been trying to preserve.) : : Thanks in Advance, Sean : -=-=-=-=-=-=-=-=-=-=-=-=-=- : Sean, : If your trustee is a pro she will want her file copies of the trust paperwork she processed on your behalf. So most of it will be in a written format to facilitate copying. : A trustee cannot delegate her fiduciary powers to someone else. So she can't give another party a POA to wield her trustee powers in her stead. : If your trustee is likely to be unavailable from time to time then I'd have two co-trustees with equal independent powers of serving you as trustee. : And you should have a back-up deed that acts to transfer the trusteeship from your current trustee to a successor trustee. That way, you the trustee, won't have to public when switching your trustees around. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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