Legal Question in Wills and Trusts in New York
trustee
Can the trustee of the 'Family Trust'' be the sole beneficery of the Family Trust?
Asked on 11/26/06, 5:19 pm
2 Answers from Attorneys
Walter LeVine
Walter D. LeVine, Esq.
Re: trustee
I AGREE WITH DAVID THAT WHILE THIS IS PERMISSABLE, IT MIGHT NOT BE THE BEST WAY TO HANDLE THINGS. THERE ARE MANY REASONS TO HAVE MULTIPLE TRUSTEES, ALTHOUGH ONE MAY BE THE MANAGING TRUSTEE TO HANDLE DAY-TO-DAY ACTIVITIES. THIS IS A RESPONSE TO AN INTERNET QUESTION AND THE REPLY IS NOT INTENDED TO BE LEGAL ADVICE OR AS CREATING AN ATTORNEY-CLIENT RELATIONSHIP. MISSING OR OMITTED FACTS MIGHT PRODUCE A DIFFERENT REPLY.
Answered on 11/27/06, 12:22 pm
David Slater
David P. Slater, Esq.
Re: trustee
yes, but it usually make no sense to do it.
Answered on 11/26/06, 5:55 pm
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