[Roberta Sheets]

My Son was injured in a play ground incident 5 years ago. When his case settled, his Attorneys persuaded me into signing with Wells Fargo Private Bank as Trustee of my Sons assets. I had no idea at the time that I was basically signing over all financial decisions to a Banker. I can not even use money that was intended for his well being on simple nutritional supplements without padding the pockets of the "team" that this bank relies on to assist in simple things that the average person is entitled to. I still do not know if I had other options so I have to wonder if I should have been better informed of the decision I was being pushed into by agreeing to use Wells Fargo in a Fiduciary manner. His case was settled about one year after his accident so emotionally and intellectually, I was somewhat unstable.. I don't know if I even had the stability to make this decision. I was off work from an "excellent job" as a Respiratory Therapist of 13 years during this time. I was on Disability for Depression at the time I signed away my Sons access to his funds for ever. I am not sure that duress is proper terminology but I was not informed the repercussions that would be hurled upon us over this choice. I new that my Sons Attorneys had done a great job in defending his case but the same level of care was not exercised when it was time to start making decisions on life long needs. There have been substantial ramifications because of my lack of knowledge when sighing these documents.. Is there any way to have this Trustee changed based on the fact that I was not informed properly involving the consent.I just did what I was told to do in order to settle my Sons case. Does any body know of any loop holes in this type of situation or maybe know of other reliable from Professionals that may be able to help myself and my Son remove WFPB and their highly paid team from our lives?

[joypulv]

The likelihood of winning a suit on the grounds of signing under duress are slim, but that's probably the wrong tactic anyway.
You need to tell us the exact wording of the trust in regard to either termination or assigning another trustee.
I suspect that your lawyer gave you good advice to have a trust, given that you would lose your disability benefits, or at least some of the attending medical benefits, were you to have the settlement yourself.
Yes, trusts charge a fee, usually a % such as 1.5, with a minimum of a few thousand a year.
Special requests are often handled by committee for bank liability reasons of decision making, so try to wait and ask for a bunch of things all at once, if they are in addition to a regular monthly payment.
Again, to answer your question: tell us the wording of the trust in regard to change of trustee. If you can't find that part, consult a lawyer.

[ScottGem]

It is not uncommon to place a large settlement that was the result of a law suit for a minor in such a trust. Your attorney probably gave you good advice to do so. Maybe his choice of trustee was motivated by a kickback, maybe the trustee was the wrong choice for you. But I doubt if you can claim duress and make it stick.

A trust such as you describe is generally revocable.So you should be able to find a trustee that you can work with better and transfer the balance to them.

The first thing you need to do is read the terms of the trust and understand your rights under the trust. If you still want to find another trustee, then do so. It might be better to get a lawyer to draw up a trust agreement that you can live with.