Full question:
I have a pritty good sized family Trust from my parents & in it they stipulate that I only receive $3000 per month from it. I am wondering if my sister who is the executor gives me more that that if there would be any reprocussions on eather side, she said she has the obligation to follow the instructions of the Trust & I understand that but is there any penelty for giving me more or just giving me all of it because my dad said before he died to do that but I didn't tell my sister untill after He & my mother had died so there is nothing in writing.
- Category: Trusts
- Date:
- State: California
Answer:
The trustee of a trust must follow the trust's terms, even if there are oral statements suggesting otherwise. If your sister, as the trustee, gives you more than the stipulated amount, she could be breaching her duties. This could lead to legal action against her, where she could be held personally liable. Under California law, if a trustee breaches their duties, beneficiaries can take various actions, including:
- Compelling the trustee to fulfill their duties
- Preventing the trustee from breaching the trust
- Seeking compensation for losses caused by the breach
- Removing the trustee
In summary, while your sister may want to honor your father's wishes, she is legally bound to adhere to the trust's terms, and acting against them could have serious consequences for her.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.