The Unhappy Beneficiary

A beneficiary should not accept poor service from their trustee.

Many trust beneficiaries grow unhappy with other trustees that invest in their own mutual funds, charge high fees, charge hidden fees, fail to communicate or constantly have new employees. Trust beneficiaries sometimes also become frustrated with family members who are trustees who don’t have time or the qualifications to properly serve as trustee.

Many trustees will say that you are powerless and cannot do anything to change the trustee because the trust may be irrevocable.

HOWEVER, YOU CAN CHANGE THE TRUSTEE … EVEN WHEN THE TRUST IS IRREVOCABLE.

Irrevocable trusts generally cannot be changed, but certain things can be altered.  The trustee is one of those elements that can be changed. Many trust agreements provide a way for beneficiaries to change the trustee as well as most state statutes where the trust agreement is silent on the issue.

We are happy to review your trust and applicable laws and advise you how you can change your trustee.