J
JoeSmoe
Guest
- Jurisdiction
- Arizona
Does filing for chapter 11 personal bankruptcy disqualify a person from being the trustee of a trust?
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adjusterjack
Super Moderator
I don't think so.
The Arizona Trust Code begins with ARS 14-10101 at:
Arizona Revised Statutes
A quick scan of the titles doesn't reveal any statutory limitations as to who can be appointed trustee by the maker of the trust.
However, there is nothing prohibiting the maker of the trust from disqualifying a trustee for being in bankruptcy.
And, obviously, if you are the trustee of your own trust, the beneficiaries of the trust would have recourse if you didn't act prudently.
The Arizona Trust Code begins with ARS 14-10101 at:
Arizona Revised Statutes
A quick scan of the titles doesn't reveal any statutory limitations as to who can be appointed trustee by the maker of the trust.
However, there is nothing prohibiting the maker of the trust from disqualifying a trustee for being in bankruptcy.
And, obviously, if you are the trustee of your own trust, the beneficiaries of the trust would have recourse if you didn't act prudently.
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