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About David Disraeli
Expertise
I can answer questions about living trusts, why you would or would not want one. I can also answer questions about estate tax reduction and advanced charitable giving, family partnerships and asset protection. I may have already answered your question here: www.lifeplanblog.com

Experience
I have worked for 23 years with clients and their attorneys to formulate estate plans to meet client goals. I have found many mistakes made by client attorneys and were able to have them corrected. I focus on making sure that beneficiaries are protected from current or future spouses and lawsuits so the wealth stays in the family.

Publications
I am an expert in the college planning section of this website

Education/Credentials
Certified Financial Planner 1994

You are here: Experts > Money > Wills/Estate Planning > Trusts & Estates Law > Discretionary powers of trustee

Trusts & Estates Law - Discretionary powers of trustee

Expert: David Disraeli - 11/5/2009

Question
My mother died about 4 months ago and had a living trust, in California. My sister is the trustee?, the person designated to execute the trust. The estate consists of a condo, probably worth about $250K in today's market, with $140k still owed, and some cash, about $70,000 in various bank accounts. Although she was given many discretionary powers by the trust to care for my mother when she was alive, the trust says that with the death of my mother, the estate is to be distributed "outright" in equal shares to both of us. My sister wants to delay putting the condo up for sale for an indefinite time, because of the poor housing market. I am not in agreement. She has been advised not to distribute any of the money because it may have to go for various property costs over time. Do I have any options to try and move the process along.
Thanks.

Answer
Hello Jim,

Unfortunately I'd have to read the trust to answer your question. Generally if there is a sole trustee you have to sue them to make them act. I would warn her that any delay that costs you money is her responsibility - the legal term is "fiduciary responsibility". Are you sure that that there is only one trustee?

David Disraeli, CFP

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