Legal Question in Wills and Trusts in Ohio

Is the administrator of a trust allowed to borrow money against the trust, for personal gain, while managing the assets? This administrator is also a beneficiary of the trust. Are the other beneficiaries allowed to see the documents involved in the management of the trust?


Asked on 9/23/14, 5:23 am

2 Answers from Attorneys

James Slater Slater & Zurz LLP

To properly answer all your questions, we would like to offer you a free consultation. Your free consultation can take place either over the telephone or in-person.

To schedule your free consultation, please call us at 1-800-297-9191 or email Adam Kumler at [email protected].

We look forward to hearing from you.

Read more
Answered on 9/23/14, 6:35 am
Christine Socrates Meyers, Roman, Friedberg & Lewis

The provisions of the trust need to be evaluated to answer your questions regarding the trustees right to borrow money against the trust. Most trust do not allow this but there may be rare circumstances that one may allow a trustee to borrow money. Most trusts require an annual accounting to the beneficiaries of the trust. That is another provision which should be evaluated in order to property answer your question. You can contact my office for further evaluation or assistance, www.socrateslegal.com.

Read more
Answered on 9/29/14, 10:54 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in Ohio