14 Mar Trustees cannot distribute to themselves
A Trustee wanted to take personal distributions from a trust that she would have been allowed if not for the fact that he was also the sole trustee of the trust. Surrogate Robert Gigante in Staten Island (Richmond County) noted without appointment of a co-trustee, petitioner could not exercise her annual power to withdraw principal as she could not distribute to herself. The court stated it would exercise its discretion to appoint a co-trustee. We see here a creative attorney requesting unusual relief from the Surrogate which Surrogate Gigante was willing to grant in this circumstance. The Surrogate has broad powers to grant relief when a compelling argument is made-even when the terms of the creating document do not seem to allow such relief.
Matter of Estate of Gaites