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Irrevocable Trust Act Sep​a​rate or ​Together?

A​n​ Irrevocable trust - act sep​a​rately or ​a​ct together? The trust agreement doesn't state the powers the trustees have and how they should act upon it. The only thing it lists are the trustees that are joined with an "and​.​" The trust is mainly about the property not financial accounts. The trustees would like the account setup so they can act sep​a​rately, but I can't find any information on this. What are your thoughts?​

by Randy Carey:

If you don't understand the powers of the trustees, then you should either have your legal counsel review it and provide guidance or just refuse to open the account.


by Ken Golliher:

Agreed. What the trustees "want" will not be one of your considerations.

First published on 03/25/2018

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