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Can Successor Trustees use Living Trust assets for themselves?

April 26, 2017assets Living trust Successor TRUSTEES

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Can Successor Trustees use Living Trust assets for themselves?

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No, unless the Successor Trustee is also a beneficiary named in the trust document, and then only to the extent of such beneficial interest. A Trustee acts as a fiduciary for the beneficiaries of the trust and must act only for the beneficiaries’ financial interests.