There are 3 beneficiaries to a trust in Ohio, 1 is the executor but is not following the financial reporting rules to the other 2 beneficiaries as stated in the trust. Can the other 2 vote the executor out because of not providing that information as outlined in the trust?
The trust talks about "the resignation" or "removal" but does say how it has to be done.
Answered on: 3/28/13, 10:40 am by Nancy Fioritto Patete
This question is a little confusing because the person or institution that handles a trust is referred to as "trustee" and not "executor." In Ohio, a trustee can be removed for the following reasons:
5807.06 Removal of trustee - grounds - protective measures.
(A) The settlor, a co-trustee, or a beneficiary may request the court to remove a trustee, or the court may remove a trustee on its own initiative.
(B) The court may remove a trustee for any of the following reasons:
(1) The trustee has committed a serious breach of trust;
(2) Lack of cooperation among co-trustees substantially impairs the administration of the trust.
I suggest you contact an attorney for assistance if this is what you decide to do.
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Nancy Fioritto Patete, Esq. PO Box 24387 Mayfield Heights, OH 44124► Other answers from this attorney