Oct 29, 2014 #1 L Legal4CMS New Member Is the trustee allowed to borrow money from the estate for own personal use?
Oct 29, 2014 #2 army judge Super Moderator Legal4CMS said: Is the trustee allowed to borrow money from the estate for own personal use? Click to expand... If a trustee borrowed money from a trust, it would likely be a violation of his or her fiduciary duty, if NOT a criminal act. That said, many trusts have very unusual, if not unique language. If what you inquired about has occurred, it would be very unusual. I suggest you consult a local attorney and see if he or she can get you some specific answers. You'll need PROOF, not mere suspicion to attempt to do anything if thievery is occurring.
Legal4CMS said: Is the trustee allowed to borrow money from the estate for own personal use? Click to expand... If a trustee borrowed money from a trust, it would likely be a violation of his or her fiduciary duty, if NOT a criminal act. That said, many trusts have very unusual, if not unique language. If what you inquired about has occurred, it would be very unusual. I suggest you consult a local attorney and see if he or she can get you some specific answers. You'll need PROOF, not mere suspicion to attempt to do anything if thievery is occurring.