Posted in: Trust and Estates Receiverships

Trusts and Estates Receiverships

The intersection of trusts, wills and other estate documents and receiverships is a common occurrence. For example, a common reason that health and safety receiverships occur is that an owner passes away without any known heirs, or intestate. In situations where an owner passes away without any known heirs or intestate the property becomes abandoned and overrun, which makes the appointment of a health and safety receiver necessary.

Another common occurrence is that a trustee can become irresponsible, incapacitated, or engage in illegal activity. In such situations a trustee can be removed and a receiver appointed to take over the trust. This can be critical as often a trust may be in possession of numerous properties and with an irresponsible trustee in charge of the properties dire consequences could result.