My mother passed away in AZ in April. There are 4 children (beneficiaries). My oldest brother is POA. He and I are co-trustees of my Mom's trust.
I recently received a letter from a lawyer representing my brother to sign a Waiver of right to appointment as personal representative, waiver of bond, and joinder in appointment of personal representative. (He sent this to all siblings). I also received a letter of Resignation of Trustee to sign.
My concerns are that the trust be handled fairly. My brother told my sister and me that he'll make sure we don't get anything (from mom's estate), as we don't get along.
I thought a bond is like insurance to protect the beneficiaries.
I read that Arizona statutes require that a personal representative be appointed to administer probate. Do I have to sign these papers? Why would I have to resign as co-trustee?
Thank you for any advice
1 Answer from Attorneys
No, you don't have to sign the waiver. In addition, you have the right to apply for appointment as Personal Representative of the estate, his POA does not have any force or effect. You, as co-trustee have equal rights and both must agree upon actions taken to administer the trust. You have no obligation to resign as trustee. You should meet with an attorney at once and learn about your rights, duties and obligations. The cost of the attorney will be paid by the trust or the estate. Certainly don't sign the paper he sent you.