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Updated almost 3 years ago on . Most recent reply

User Stats

45
Posts
31
Votes
Dalton King
  • Real Estate Agent
  • Melbourne, FL
31
Votes |
45
Posts

Cpa/Attorney question about trustee rights

Dalton King
  • Real Estate Agent
  • Melbourne, FL
Posted

Looking for some advice based on what my current CPA is telling me. Basically I have a trust fund from great grandparents and the only provision of the trust was to get schooling. So I got my real estate license. We had agreed the licensing course would count towards the education requirement. And after that is achieved I am able to use the funds to start a business or buy a personal residence. I am doing both at the same time. 

The issue is she keeps coming up with new criteria for me to achieve that is not outlined in the trust. She is not experienced in real estate so I feel like my business plan is not the kind of investing she wants to do with the trust funds. She keeps telling me she wants to diversify, but not providing an alternative asset class. I am offering real estate because there is no better ROI out there if done right. I feel like she doesn't want to lose the income she's making from managing the trust. It's the only logical reason as to why she wouldn't liquidate the trust..

Any advice on this? I am homeless at the moment jumping from place to place trying to get this house but she is the only one stopping me. As the trustee I should have full say in how the money is used? Especially after checking off the education requirement. 

Thanks, Dalton

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