How JustAnswer Works:

  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.

Ask Ely Your Own Question

Ely
Ely, Counselor at Law
Category: Estate Law
Satisfied Customers: 87081
Experience:  Fully licensed attorney in Texas in private practice.
7286322
Type Your Estate Law Question Here...
Ely is online now
A new question is answered every 9 seconds

My wife has been the co-trustee of her mothers trust for about

Resolved Question:

My wife has been the co-trustee of her mothers trust for about 5 years. She's also had POA for healthcare and financial matters. Her mother began having mini strokes and memory issues about 3 years ago and was checked into a memory care center about 18 months ago. She passed away recently and so my wife is trying to handle the estate and trust issues with an attorney. (We are in California?.)

My question is in regards XXXXX XXXXX obligations of the attorney. She is asking for bank statements all the way back to when the trust was drawn up (5 years ago) and says she might do a "full accounting", whatever she means by that. If she has to go through 5 years of bank statements and look at all of the transactions, this could cost us a fortune. Is this something that the attorney is obligated to do?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Ely replied 1 year ago.
Hello friend. My name is XXXXX XXXXX welcome to JustAnswer. Please note: (1) this is general information only, not legal advice, and, (2) there may be a slight delay between your follow ups and my replies.

I am sorry for your wife's loss and your family's situation. Can you please clarify - is the attorney the other co-trustee? And, does one co-trustee have more power than the other, or are they the same?

If the attorney is not the co-trustee, then what is their relation to this matter?

This is not an answer, but an Information Request. I need this information to answer your question. Please reply, so I can answer your question. Thank you in advance.
Customer: replied 1 year ago.
My wife was co-trustee with her mother. She would be the only one now. The attorney is not related.
Expert:  Ely replied 1 year ago.
James,

Then what is the attorney's interest here? I mean - who appointed them? To represent whom/what?
Customer: replied 1 year ago.

She wasn't appointed by a court or anything. My wife just wanted to make sure all of the proper filings are done and money distributed by a neutral third party so nobody can complain. All assets were in the trust and there were no bills. The only income was Social Security and the only assets at the end was the proceeds from the sale of her home. She shouldn't owe any taxes since the gain on the house was < $250K.

 

Are you thinking that we don't need the attorney?

Expert:  Ely replied 1 year ago.
So...your wife retained her? Okay, now I understand. Thank you.

She is asking for bank statements all the way back to when the trust was drawn up (5 years ago) and says she might do a "full accounting", whatever she means by that. If she has to go through 5 years of bank statements and look at all of the transactions, this could cost us a fortune. Is this something that the attorney is obligated to do?

Not really. Rather, there is no reason to do so unless someone is challenging the trustee's ability/function. In other words, if someone else or the Court would state that she did a bad job, possibly took money, etc, then a full accounting may be necessary.

However, if the aim is to simply close the account and no one is challenging anything, then there is no reason to do a full accounting and she may simply file what is necessary to close the trust.

Now, you may want to use an attorney to close the trust, but often, a full accounting may not be necessary...

I hope this helps and clarifies. Best of luck.

She is asking for bank statements all the way back to when the trust was drawn up (5 years ago) and says she might do a "full accounting", whatever she means by that. If she has to go through 5 years of bank statements and look at all of the transactions, this could cost us a fortune. Is this something that the attorney is obligated to do?
Ely, Counselor at Law
Category: Estate Law
Satisfied Customers: 87081
Experience: Fully licensed attorney in Texas in private practice.
Ely and 4 other Estate Law Specialists are ready to help you
Expert:  Ely replied 1 year ago.
Thank you for your gratuity.

JustAnswer in the News:

 
 
 
Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.
 
 
 

What Customers are Saying:

 
 
 
  • My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns. Loretta T Illinois
< Last | Next >
  • My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns. Loretta T Illinois
  • Thanks Adam!! - A very direct and understandable response - you have been a great help! Happy Customer Ellicott City, MD
  • Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises! Gary B. Edmond, OK
  • My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer. Eric Redwood City, CA
  • I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight. Michael Wichita, KS
  • PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent. Three H. Houston, TX
  • Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!! Elaine Atlanta, GA
 
 
 

Meet The Experts:

 
 
 
  • Thomas McJD

    Attorney

    Satisfied Customers:

    3076
    Wills, Trusts, Probate & other Estate Matters
< Last | Next >
  • http://ww2.justanswer.com/uploads/MC/mclemorelawyer/2011-9-21_193631_IMGP8718Version2.64x64.jpg Thomas McJD's Avatar

    Thomas McJD

    Attorney

    Satisfied Customers:

    3076
    Wills, Trusts, Probate & other Estate Matters
  • http://ww2.justanswer.com/uploads/NY/nyclawyer/2012-6-7_22011_photo66139201112041.64x64.jpg Infolawyer's Avatar

    Infolawyer

    Attorney

    Satisfied Customers:

    3781
    Licensed attorney helping individuals and businesses.
  • http://ww2.justanswer.com/uploads/BA/barristerinky/2012-6-10_22423_office.64x64.jpg Barrister's Avatar

    Barrister

    Attorney

    Satisfied Customers:

    2188
    13 yrs estate law, real estate. Wills/Trusts/Probate
  • http://ww2.justanswer.com/uploads/RA/rayanswers/2012-6-7_23346_Untitled1.64x64.jpg RayAnswers's Avatar

    RayAnswers

    Attorney

    Satisfied Customers:

    1484
    Texas lawyer for 29 years in Estate law
  • http://ww2.justanswer.com/uploads/RO/RobertJDFL/2012-6-6_175352_7538220120606.64x64.jpg RobertJDFL's Avatar

    RobertJDFL

    Attorney

    Satisfied Customers:

    1226
    Experienced in multiple areas of the law.
  • http://ww2.justanswer.com/uploads/PH/philip.simmons/2012-6-7_161915_BIGPhilipSimmons.64x64.jpg P. Simmons's Avatar

    P. Simmons

    Attorney

    Satisfied Customers:

    770
    12+ yrs. of experience including estate law.
  • http://ww2.justanswer.com/uploads/RA/ratioscripta/2012-6-13_2955_foto3.64x64.jpg Ely's Avatar

    Ely

    Counselor at Law

    Satisfied Customers:

    754
    Fully licensed attorney in Texas in private practice.