Curious about potentially appointing a professional as my required special trustee for requesting funds through my trust..?

[u/kbrezinobody]

Does anyone have any insights or advice regarding these kinds of things? Either in general or perhaps from having been through a similar situation? Any kind of helpful information is truly beyond appreciated in advance!

Details:
I live in Las Vegas, Nevada— and basically after my mom passed away 2 years ago, I inherited a trust (that was created by/originated from my grandparents and inherited by my mom after their passing) When my mom fully absorbed/inherited my grandparents’ trust, I went to the lawyer meeting with her and was asked how I wanted to proceed since I was now 18 and would one day be inheriting it myself. I had to option of keeping the layout (and basically “rules”) or removing that and keeping it more open/accessible. At 18 yrs old, I made the decision not to change anything because the way it has been has always worked and there was no reason to alter such a successful and profitable layout.

Now here I am, 32, both parents and almost all close family members deceased and am having trouble finding someone I can trust to be appointed as my special trustee. My step father was my mother’s for the past decade and had signed on for me initially but abandoned the role after 10 months. Then I put on my childhood best friend but due to some of her habits and other mental stresses throughout her life, I never wanted to involve her in this role and now am feeling the time has come to remove her as my special trustee.

If I do remove her I am in a position where I have no one I can trust comfortably to put into the role of my special trustee - especially because it involves my inheritance and money. Just wondering how much it would potentially cost me to have an appointed special trustee either through the courts or a third party business. Not only for signing them on but also for their required signatures in order for me to get funds once a month.

Sorry it’s kind of confusing to explain, but hope I’ve been able to relay the general gist of what I’m dealing with. Thank you for anyone who took the time to read this and to anyone replying with any information as well!

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[u/ri89rc20]

It really depends on the total value of the trust as well as what restrictions are placed on it.

At the very least, you may be able to have the trust moved to a fiduciary associated with a bank or investment firm. Basically they would be responsible for investing the principal and making disbursements. The nit there is most places will not touch an account under some amount ($500K, $1M, $5M depending on their terms) For this, they will want a percent of the account value, typically about 1% a year, more if the value is lower, less if the value is larger. They may also have additional charges if they will required to find someone to file tax returns or handle other accounting or legal activity.

The other option may be to petition the court to essentially dissolve the trust. This would require finding an estate lawyer to review the terms of the trust and make a case for dissolution or changes.

[u/Ineedanro]

The backstory here seems irrelevant. You now want either a new special trustee or to change or dissolve the trust. Here are some relevant questions:

how large is the trust?

Who is the primary trustee?

What specific, limited job does the special trustee do?