AboutAlexander J. Hay Expertise I can answer questions on trusts, wills, and specifically the use of Offshore Trusts and Companies in combination with Domestic entities to help with estate planning, tax minimization and asset protection.
Experience I am a U.S. attorney with offices in the United States and Belize. I have experience helping to protect assets, reduce taxes, and improve investment performance by utilizing global investment techniques.
Education/Credentials Harvard University, A.B. degree; University of Houston Law Center, J.D. Degree; Fulbright Scholar
Expert: Alexander J. Hay Date: 6/10/2008 Subject: Can a trustee break a trust?
Question I was 4 when my grandmother died. She had a trust with lots of money. The money was gone in four years and the land was almost lost to taxes.So I took over as trustee to save it. I am 28 and the trustee of the trust. we are almost poor can I break the trust since the purpose of the trust is gone and had been gone for almost 18yrs?
Answer Most trusts have a clause which essentially says that if the trust becomes valueless it can be terminated at the discretion of the Trustee. Read through the trust. See if you understand what is going on. Even if you think you understand, make sure to go talk to an attorney who has some understanding of trusts.
