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You wrote: Usually Trustees do NOT have the authority to assign a new Tru a stee, that is the Authority of the Director.
The trust says: If the aforenamed successor
trustee fails or ceases to serve, she may appoint
another successsor trustee;...
{I don't know what the term 'director' means.}
Anyway the lawyer that was brought in to help
understand all this wanted to be the trustee.
(That is, a new lawyer not associated with
the trust or knowing anyone involved.)
A letter of ascent (sp.?) was sent to the beneficiaries
so all could sign, and this new lawyer could be the
trustee. One beneficiary would not sign.
After this...
The original lawyer/trustee of the trust made
this bank trustee and washed her hands of
everything.
So do you think this bank can invest in any way it
wants? The executor of the will is the only current
beneficiary and will be meeting with the financial
planners at Legacy soon.
(The lawyer brought in to help, has not said that this
bank becoming the trustee is illegal.)
-Stephen
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