Who can be a trustee ?

Question

I have a trust fund . My condo is owned by my trust fund . My trustees have been going too far and overstepping their authority for years, and I want to replace them . Can I have a friend or a relative be my trustee ? All the relatives I have left are cousins . Who can be a trustee ? Thank you in advance for your answers .

Update:

I had to put my inheritance into a trust fund so I could receive Social Security Disability . It has nothing to do with my ability to handle money .

Anonymous · Answer

Without reading the trust agreement this cannot be answered.

Are you say you are hiding the inheritance from SS Disability?  Are you saying you are collecting SS by fraud?

Only a fool would post this!

Nosehair · Answer

A trustee can be anybody you choose. There are no restrictions for a trustee to a trust to be a family member or not.

Morningfox · Answer

Just about any competent adult could be a trustee. Or a trust company. But you can't just pick who you want ... you have to follow the trust document rules and state law. Have you *carefully* read the document, or had it explained to you?

BTW: the condo is NOT owned by the trust fund. It is owned by the trustee, acting as the trustee.

BTW: the condo is NOT owned by the trust fund.  It is owned by the trustee, acting as the trustee.

? · Answer

The reason that there is a trust fund is that whoever set it up didn't trust you to be able manage the funds competently.  The trust document should spell out how trustees are replaced.

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Who can be a trustee ?

4 Answers