Hi guys, I want to ask if same person can be both Trustee and Beneficiary of a Discretionary Trust if it has one more beneficiary that is an LLC the owner / Director of which is the first beneficiary of this Trust ? Thank you
Do yourself a favor. First, go to the website for superior court for the county in which the Trust document originated. Search responsibilities of the Trustee, rights of the beneficiaries, and compile a complete list of questions. Then at bare minimum, spend the money for a consultation with a Probate Attorney, or outright retain one. This is a small price to pay to avoid a potentially very messy legal situation. And do it Now !!! Not when the time has come to execute the trust.