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Can a trustee move estate money into a personal account without the estate or co-trustee knowing?

1 Answers. Asked on Jun 19th, 2017 on Trusts and Estates - Florida
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Answered on Jun 20th, 2017 at 6:38 AM

Dear Sir,

 

Assuming this is an irrevocable trust (Settlor has died), Trustees are required to advise qualified beneficiaries of the trust and, upon request, to provide them copies w/i 60 days of the trustee(s) assuming trusteeship. Also, trustees are to provide annual accountings of trust transactions.

A trustee's authority derives from the terms of the trust so it is possible for co-trustees to have independent authority but this is rare. Improper distribution of trust assets can serve as a basis for action for breach of trust.

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