Six Powers Of A Trustee

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A trustee of a trust must constantly take certain actions in the administration of their duties as trustee. But some beneficiaries, and even some trustees, often inquire whether a trustee has the power to take certain actions.
In general, the nature and extent of powers of a trustee are determined by the provisions of the trust instrument. In absence of trust provisions regarding a specific power, applicable trust law controls.
Trust law provides for trustees to have certain specific powers when it comes to incurring expenses, leasing and selling trust property, compromising claims affecting trust property, and powers with respect to the trust holding shares of stock or securities.
In addition, trust law enumerates the powers of trustees when there is more than one trustee.
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This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship.
Paul Rabalais
Estate Planning Attorney

[@sylvesterdesir8472]

Thank you very much for this . You have been very helpful.

[@elainenilsson5472]

6 Powers: Refer to the Trust Instrument 1. Incur expenses, 2.Trustee may execute lease of property, 3. May sell Trust property, 4. Enables the Trustee to compromise/submit to arbitration 5. Exercise all the powers regarding stock 6. Powers of multiple Trustees

[@BuzzJones]

Thanks Paul your videos been helping out me researching & planning for a Trust before I even see a Lawyer. Figuring out a Trustee has been most difficult outside the family....

[@glasshalffull8625]

This is not part of the trust, but be sure to have the Power of Attorney include the ability to obtain “credit” for an elderly parent. My mother paid her mortgage off decades ago and stopped using credit cards about ten years ago. Her credit was not “active” and when we tried to refinance her house/reverse mortgage to fund her care, nobody would lend to someone without a recently active credit. It was a major problem and caused severe family strife as we tried to finance her care.

[@reginagrimes3873]

I wish you practiced in Texas 🙂
These are so helpful.

[@curtevans7662]

good job Paul as always...stay safe

[@americasestateplanninglawy1946]

You stay safe too 🙏

[@dominiceddy5947]

I listen to your videos at 1.75 speed you slow slow talker you 🤝😄

[@gregorylynncarawayttee8900]

Thanks for all you do.
Great content for inquiries.
Be Great

[@americasestateplanninglawy1946]

Thanks 😎

[@gregorylynncarawayttee8900]

May you All BE Well during this weather forecast BE at PEACE .

[@terilamplot6106]

I’m a 3L law student and started listening to you while taking Estates. You do a great job explaining the law. Thank you! I have a long winded hypo that I would love to run by you but it is much too long to post here. Is there a way to contact you directly?

[@jvolstad]

My will is very simple. Most of it is going to charity.

[@Everydayprojects365]

What’s the hierarchy look like
Power of attorney until the person dies,trustee until ? Executor? Beneficiary? Who’s controls what and until when or how someone else takes over all the way until there is no trust???

[@ninascherry3274]

Take out the trust I don’t wanna a beneficiary.. now what. 🤷🏽‍♀️

[@markopolo897]

What can a trustee do when property in the trust was unlawfully seized Property is in an irrevocable trust and a UCC filing was put on the thieves as debtors to the Trust and Beneficiary. Cant call the police because it was the police. The court is a sloooooow process. Does anyone have a suggestion? I have read up on Article 9 and it gets complicated getting a Marshal or Sherrif involved. But the defendants are not allowed to conduct an unlawful protest keeping the property. It was very clear. then it does say the marshal can step in if unlawful conduct is observed during a repossession.

[@growyourmind3869]

Is a.trustee and director the same thing

[@lynnschmidt8421]

My home is in a irrevocable trust, with a attorney. I bought this home through my inheritance. Is his duty with my 27,400 left in cash suppose to take my money to fix my home? My home is in the trust. My bathroom is about to fall through the floor!

[@cybercruiser69]

OK, so, after both husband and wife are passed, and the eldest child, in their 30's or 40's, is the trustee, How do they know they are the trustee?? How do they know where the documentation for the Trust is?? With the directions they're supposed to follow?? Parents are dead, no one told them there's a trust or where to find it??

[@americasestateplanninglawy1946]

Very good question. I’ll address in a video