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Richard, Attorney
Category: Estate Law
Satisfied Customers: 53666
Experience:  29 years of experience practicing law, including tax and estate planning.
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I was listed as one of the beneficiaries of a trust. The main

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I was listed as one of the beneficiaries of a trust. The main beneificiary, myself and one other individual. Me and this other individual were supposed to receive equal amount and then the main beneficiary would receive the rest.

The deceased died August 1, 2012.

I havent bothered her because I didnt think it was the same as a will. Does she get to pick and choose what she does with this money and not pay the other two beneficiaries?
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good morning. The trustee does not get to do this. The trust and its assets are not the personal piggy bank of the trustee. Rather, the trustee is obligated to administer the trust specifically pursuant to the terms of the trust. In addition, the trustee’s fiduciary duty to each beneficiary requires that the trustee provide each beneficiary a full inventory of trust assets and periodic accounting of every dime in and out of the trust. Failure to do so is a breach of the trustee’s fiduciary duty to the grantor of the trust and to the beneficiaries. Such a breach gives the beneficiaries cause to ask the trustee to resign and if the trustee refuses to do so, gives the beneficiaries the right to file a petition with the family court asking the court to order the trustee removed. And, if there has been any misappropriation of estate assets, the beneficiaries can also ask the court to award actual and punitive damages against the trustee.

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