Legal Question in Wills and Trusts in Colorado
Contesting a trust arrangement
I have been married to my second husband for almost 10 years. He brought most of the assets to the marriage, including several commericial and personal properties, and has set up a marital and family trust. We have no biological children together. He has two grown sons from his first marriage and they are the beneficiaries of the family trust and I am beneficiary of the marital trust. His son is a trustee on my marital trust. In the event of my husband's death, what are my rights if I don't agree with my stepsons. Can I gain more control over the marital trust by going to court and removing my stepson? What are my options?
3 Answers from Attorneys
Re: Contesting a trust arrangement
Your options are determined by the terms of the trust document and the actions of the trustee. Some trusts contain a power for the beneficiary to replace a trustee with a bank or trust company.
Whether your trust has such provisions should be discussed with a lawyer in your area that specializes in trust work. You can discuss your rights and options with that lawyer who can also help you respond to situations that could arise with the trustee.
Re: Contesting a trust arrangement
Your options are determined by the terms of the trust document and the actions of the trustee. Some trusts contain a power for the beneficiary to replace a trustee with a bank or trust company.
Colorado law also has provisions concerning the removal of a trustee in certain situations.
Whether your trust has such provisions should be discussed with a lawyer in your area that specializes in trust work. You can discuss your rights and options with that lawyer who can also help you respond to situations that could arise with the trustee.
Re: Contesting a trust arrangement
For the most part, your rights will be governed by the terms of the trust itself. If you have serious concerns about your stepson acting as trustee of the marital trust, it may be best to discuss this with your husband now. It will be much easier for him to amend the trust now than for you to have to seek a judicial removal of a trustee after your husband is gone.
I would suggest you arrange to meet with an Elder Law attorney who can review your trust agreement and advise you more thoroughly on your options.
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