Who Is Responsible If the Trustee Abandons His Duties?

My trustee claims that I insulted him in an email, which I did not. I believe he does not want to have to file income taxes on a special needs trust and used this as an excuse to bow out of his role as trustee. He informed me that he has taken all the files relating to the trust and sent them back to the trust's creator. I don't know if he did this or not because the trust's creator is my father (and also the trustee's father), and he is 92 and quite ill and was not well enough to talk on the phone.  What can I do? If the trust becomes delinquent in taxes or other matters, who is responsible for the financial loss?  I am really not capable of straightening this out myself.

Your trustee would be responsible for any harm caused to trust assets by not doing their job. I would recommend contacting the trustee again and remind him that he is liable for any harm caused to the trust up until a new trustee is found.

Article Last Modified: 03/11/2019

Couldn't find the answer you were looking for? Let us help you.

QUESTION CATEGORIES

Planners near Ashburn

  • Ashburn Special Needs Attorney Shai Fierst
    Shai Fierst
    Rockville, MD

  • Ashburn Special Needs Attorney Jean Ball
    Jean Ball
    Fairfax, VA

  • Ashburn Special Needs Attorney Leah Morabito
    Leah Morabito
    Gaithersburg, MD