Executor needs money from trust account
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Executor needs money from trust account
I am a beneficiary of my grandfather’s estate and my aunt is the executor. My aunt needs money to get her car in working order. If all beneficiaries okay the amount of money she is taking out and document this are they allowed to do this?
Asked on September 13, 2018 under Estate Planning, Nevada
Answers:
SJZ, Member, New York Bar / FreeAdvice Contributing Attorney
Answered 5 years ago | Contributor
No, even if the beneficiaries are "ok" with this, legally, an executor may NOT use money in an estate or trust account for her own benefit; doing so would be a breach of fiduciary duty and could have her sanctioned (punished). While in practice, if no beneficiary complains later, this will not be an issue, if one changes his/her mind and does complain, your aunt will have violated the law.
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