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Sometimes it is necessary to remove trustees

| Sep 30, 2016 | Executors & Fiduciaries, Trustees |

Not every decision made by Georgia residents during the estate planning process works as intended. For example, when they choose trustees to administer their trusts, they believe that person (or persons) will carry out their wishes and the terms of their trusts. However, that is not always the reality.

Therefore, it might be necessary to remove a trustee and appoint another person to take over the duties of trustee if that person is not already named in the trust. There are five most often cited reasons why beneficiaries seek to remove a trustee. The primary duties of a trustee are to look out for the best interests of the beneficiaries and to comply with the terms of the trust. If these duties are not fulfilled, it might be cause for removal.

Another duty of the trustee is to appropriately manage the assets of the trust, and failing to do so could cause a trustee to be removed by the court. In addition, if a trustee is misusing the assets of the trust for his or her own benefit, beneficiaries could petition the court for removal. If the beneficiaries and trustees do not agree on how the assets should be managed and/or distributed, or if a trustee is hostile toward one or more beneficiaries, a case could be made to replace him or her.

Georgia residents do the best they can when creating trusts and choosing trustees. A person (or persons) might be good fit when the documents are executed, but people change or are not as worthy of the appointment as thought. This is why there are legal procedures in place to remove a trustee if the evidence supports it.

Source: blogs.findlaw.com, “5 Reasons to Remove a Trustee From Your Trust“, Brett Snider, Sept. 23, 2016

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