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To provide you with accurate information, could you please clarify these points so I can best address your inquiry:
I think I am following you, but I am confused about one figure you listed. Are you saying that there is roughly $3,500 (three thousand, five hundred dollars) left in the corpus of the trust? I want to make sure that my understanding on that point is accurate.
Could you explain the rationale behind your father appointing your brother and setting up the trust (i.e. are you under any legal disabilities or were you a minor at the time your father died)?
Once I hear back from you, I will be glad to let you know my answer. There may be some delay as I am assisting other customers or am away from my computer. Please rest assured, however, that I will get back to you as soon as possible.
Dear Mr. Burt:
On 12/31/2008 there was $264,495.70 in the corpus of the trust. I am sorry that was my mistake. I have been on disability for Lyme disease since the early 80's and my brother is one of those mathematical geniuses, there was no comparison of which one of us he would choose. However my father thought I was living above my means, when in actuality the social security disability stinks and I had a daughter to support (who is in the will) and a friend was giving me financial gifts to help me out, but he did not want to have to explain this to certain individuals. I was asked not to tell anyone, that is when my father changed the will from 50/50 in cash for both my brother and I. If I had only known what a disasterous mess this was going to make by witholding information that had nothing to do with anyone but my friend and I, I never would have accepted it. In the beginning of probate we were literally having a war over splitting my father's things and he cleverly exploited his power of attorney to be used (not to lock his sister out of her home since 2nd grade, even thought I wasn't living there, nor was he), with 4 sets of keys to our home and a combination to the garage. Additionally, he used lawyers freely to fight me over contensting this will which was a giant red flag that the trust is paying for my lawyer to fight his, which is being paid for by the trust....isn't that my money? He did this without telling me his load of crap about taking good care of the trust and honoring my father's last wishes, which he broke many times before. I have good reason to believe that my father had life insurance, and that all the money received for items inside the house were auctioned off and I haven't ever seen a dime, plus the sale of his new car. Can this be proven, I have kept all the files from all lawyers. Additionally, he was desparate to have me sign something called an Authorization to Execute Refunding Bond and Release...he said he had to sign one too but that he didn't have his. I signed not knowing what I was signing in desparate need to trust my brother like he told me to I needed that money from the trust to start litigation against my ex who abducted my daughter on the day of my father's funeral. I was under extreme duress. Thank you very much, Rosanne Olsher
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In New Jersey, by statute (N.J.S.A. 3B:23-24) an executor is required on paying a beneficiary his or her share of the estate, to take a Refunding Bond and Release from the beneficiary and to file the bond in the Surrogate's Court. The statute requires that the Refunding Bond and Release be in the amount or value of the beneficiary's share of the estate. The Refunding Bond and Release must be signed by the beneficiary before a Notary Public or attorney. If the beneficiary is a minor or incapacitated person, the Refunding Bond and Release must be signed by the guardian of the property. The Refunding Bond and Release has a dual purpose: (1) Refunding - To refund to the executor out of his share of the estate his ratable part of any unpaid debts, owed by the testator, if there are no other assets to pay them; and (2) Release - To discharge the executor of an estate of his duties upon distribution to the beneficiary of her share of the estate.
You have been through such an ordeal here, and my only idea by way of a solution is to seek redress through mediation and/or litigation. Seeking judicial intervention through legal counsel is, in my opinion, the only step that will afford any meaningful relief to you based on your brother's conduct. You cannot go back in time and undo the signing and everything else that has taken place, but you can go to Court and prove up duress, undue influence, fraud, breach of fiduciary duty, etc.
Take care and thanks again for using JustAnswer®.
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