Legal Question in Wills and Trusts in Colorado

Hello,

I'm not sure what to do about a particular situation I have.

My mother set up a irrevocable trust for me and later she passed away.

My sister became the trustee for my trust. As things went along my

trust got drained, I didn't like the way things went. I'm not actually saying

that my sister did anything illegal about the trust but I'm not too sure, the money went fast.

My question is how can I change the trustee on my trust? Do I have to come up with

a new trustee right away? If you can let me know what to do about this if you can.Please

let me know.

Sincerely,

Gail Carey


Asked on 7/20/10, 8:52 pm

1 Answer from Attorneys
Robert Murillo Pivotal Legal Ltd.

The trustee has a variety of fiduciary duties. If they violated those duties, they can be liable for losses and the like. As to getting a new trustee, if your sister is the only trustee and you want to remove her she would either have to agree voluntarily or the court would have to get involved.

In short, you need to contact an attorney on this matter and determine the best way to proceed.

DISCLAIMER�This answer is for informational purposes only and discusses general legal principles, trends, and considerations and is not intended as specific legal advice regarding your question. This answer does not establish an attorney-client relationship.

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Answered on 7/21/10, 12:57 pm


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