Legal Question in Wills and Trusts in Florida

Assets of irrevocable trust

Trustee (mother) of an irrevocable trust sold property that was in the trust and did not return proceeds to trust. What are the consequences to the beneficiaries(daughters) of the trust?

Asked on 4/25/03, 10:47 pm

2 Answers from Attorneys

Frank J. Pyle Probate Attorney Throughout Florida

Re: Assets of irrevocable trust

I am assuming that the mother did not have the authority under the trust instrument to withdraw assets. If that is the case, the beneficiaries have the right to file suit, in which they would presumably request at least three things: 1-an accounting, 2-return of the assets to the trust, and 3-removal of the trustee for violation of her fiduciary duties. It would, however, require filing suit in the local circuit court, and thus, hiring an attorney in that jurisdiction to pursue the matter. Naturally, he would normally make a formal demand of her for items 1 and 2 before filing suit.

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Answered on 4/26/03, 4:54 am

Re: Assets of irrevocable trust

The beneficiaries should file an action in the local probate court to have the assets returned (they presumably already have proof of what you said happened). If indeed the trutee acted improperly, the judge should issue an order to return the assets. Good luck.

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Answered on 4/26/03, 8:58 am

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