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Tennesse Family Trust
1) My living grandparents have a family trust that states that the real property (land/house/etc) be placed in a trust for 10 years after their demise. They are in their late 90's now, (2012)
2) Can their children break the trust or appeal it in some way, they would be in their late 80's (10 years from now) when the trust was available. 3) I imagine when the trust was formed it was not suspected to be used at such a late date. 4) My mother does have a POA, for her parents, can this be used to break the trust now? There are several living heirs to the trust. |
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What is the stated purpose of the trust. There are principles applicable to trust law that if the purpose is fulfilled the trust can be terminated.
Does the trust document give your grandparents the option to terminate the trust at will? If so, your mother may, depending on the terms of the POA, also terminate it. Consult with an attorney in your state to see what can be done. |
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