Timeline for Looking after a wayward brother in mother's will
Current License: CC BY-SA 4.0
6 events
| when toggle format | what | by | license | comment | |
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| May 30, 2019 at 12:53 | comment | added | JBentley | Just to emphasise what the answer says, DO use a lawyer for this. Trust law is complicated and you can easily screw up in a multitude of ways if you try to do it yourself (e.g. in some circumstances the beneficiaries can replace the trustees with "friendlier" ones, or can even collapse the trust) . If you just use the lawyer for the initial setup, it should be a relatively small one-time fee relative to the amount of money in the trust fund. | |
| May 28, 2019 at 13:47 | comment | added | Cullub | Like T.M. says, when appointing yourself as the trustee, think about the relational impact it might have between you. Maybe it's something that doesn't matter to you, but it does have the potential to make him hate your guts. Money's like that sometimes... | |
| May 28, 2019 at 3:53 | history | edited | Brythan | CC BY-SA 4.0 |
edited body
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| May 27, 2019 at 17:14 | comment | added | T. M. | A trustee that isn’t a trust company need not be entirely unpaid. The trust can be written to allow for anything from compensation for expenses to compensation for time. Also while this may be a workable solution, there is a significant chance of creating a lot of animus between the brother and the trustee. There is only so much someone can do to protect someone from themself. I agree that reducing the trustee discretion is a good measure in this case. | |
| May 27, 2019 at 16:36 | history | edited | Martin Bonner supports Monica | CC BY-SA 4.0 |
Suggest appointing grandchildren as trustees.
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| May 27, 2019 at 12:59 | history | answered | Martin Bonner supports Monica | CC BY-SA 4.0 |