Legal Question in Wills and Trusts in New York

Re: trusts

Your facts may not be complete, so I will ask a few questions and provide a general response. In whose name is the current Deed, your mother's or the trust? Did the trust assume any obligations if the house was transferred to it, or is it merely holding title (ownership) to the house? Is the trust revocable or irrevocable? Usually, a trustee has no personal responsibility for debts, but this could differ if the trustee gave a personal guaranty or co-signed individually. Presuming the house is owned by the trust, it would be necessary for the trustees to sign refinancing documents, but only in the capacity as a trustee - not personally guaranty the mortgage or co-sign individually. This should be left to your mother to do, unless you are providing financial assistance to her and want to guaranty the loan repayment. Further, you do not say if there are other assets in the trust from which the mortgage payments will be made or how the mortgage proceeds will be used? Be sure you do not become personally responsible unless you want to do so. Contact me directly if you have further questions.