I'd like to know specific details on the role of a trustee
Hello! I'd like to know specific details on the role of a trustee in an irrevocable trust and what a beneficiary's rights are.Specifically, if a beneficiary makes pertinent requests for a copy of the trust, a call log from the phone of the deceased, copies of police reports, but those requests are not fulfilled even after three months, what would be a possible solution?If beneficiaries have reason to believe that the trustee is being dishonest, do we have a right to fire and hire a new trustee?Also, if we have reason to believe that the deceased was stolen from immediately after death and we need to hire a lawyer to investigate missing items, can the lawyer fees be billed to the trust?
How difficult is it to replace a trustee? My grandfather
How difficult is it to replace a trustee? My grandfather didn't like me very much but he still set up a trust before he died and told me that we could use it to invest in our own projects. He's gone now but left his ex partners in charge. The trust hadall the rules laid out in it and also gave a "special trustee" the powers to pretty much change anything he wanted. That's what I need to know about... Can a special trustee really do anything they want? These guys never had any intention on letting me usea penny of my grandfathers trust for projects of my own, in fact, they deleted the entire section about the purpose of the trust and didn't say a word about it to anyone. I just received a copy of It and it had my forged signature on the notification pageto the amendment. The amendment was made two years ago but they've continued to tell me that nothing has changed at all despite of the fact. I know that beneficiaries have a right to be informed but what if they aren't? What can the law do? There is a reallyharsh no contest clause that says if I sue for ANY reason regardless of good of bad faith then I'm cut off... Right now I'm thinking that the court will ultimately give them a slap on the wrist... After all, they did have the power to change provisions ofthe trust and I didn't have any power to stop them... My signature was forged only on a notification. The document may have given them the ability to change anything but then what's the point of the trust anymore... I know for a fact that my grandfather wouldbe very disappointed, it really doesn't seem like the trust served a purpose at all now. The trust was written in Missouri but I live in Kansas.
Someone that I cared recently. He told me he set
Hi someone that I cared for died recently. He told me he set up money that I would receive for the rest of my life. His family claims he lied to me. They sent me a release agreement for 14 thousands from his estate. How can I find out is there actually a trust in my name? Please help
My mother's brother died recently in Florida, life insurance
My mother's brother died recently in Florida, life insurance beneficiary was his wife who died 5 years ago. No contingent beneficiary. His wife had two adult children from former marriage, not adopted by my uncle, do they become beneficiaries now? My mother is only living blood relative, does she have any beneficiary rights?Policy was 77K, so my mother was advised it must be probated, cost 5K, she can't afford.Thank you.
Hi Socrateaser, I'm back with questions relating to my sister's
Hi Socrateaser, I'm back with questions relating to my sister's life estate. I need to re-open this with you as there has been some positive developments. (Below is the section of the trust concerning the life estate). You should recall how my trustee brother owns half the San Diego house and my dead mom's trust owns the other half. I'm being the broken record with my older brother in that I have been pushing him to let my “little” sister take over the house and pay him market rate rent for his half, like you suggested. Finally he has come to understand she is entitled. He says he doesn't want to screw his sister nor do anything illegal so he has said he will comply (very reluctantly.) His belief is that she won't be able to handle the mortgage, etc. and is worried she will fall on her face and he will have to make up the difference. He is not happy with this situation and promises he will not help her if she is short with any payments. Tough love. I can appreciate his concern since my sister will come to this with no resources. Out of desperation I told him I would help her until she gets on her feet.His real estate daughter is a secret half partner in their half of the house so I am talking to both of them in this process. This week she has countered my claims with differing interpretations she says she got from HER “pre-paid legal” source. I need to reconcile these things so we can all be on the same page. I don't want to lose my credibility.Right away she says her source told her that once my mom died all four of us sibling beneficiaries became owners, and as such, we all have to pay towards maintenance costs of the house until the property gets sold at some future date and distribution takes place. What I need to get to them is some legal explanation from an attorney that refutes this because she is absolutely convinced that is the case. I can understand how my sister once she is living there needs to find a handyman, but how am I involved in paying for that? Is there a law that can be quoted so I can stop this recurring argument from my niece? Mike"Jan Smith shall enjoy a life estate in this property as long as she resides on the property, makes all mortgage payments thereon in a reasonably timely manner, pays all property taxes when due, maintains reasonable insurance on the property and maintains the property in reasonable condition."
My mother purchased a life insurance policy with a rider attached
My mother purchased a life insurance policy with a rider attached to cover my father 20 years ago with my mother as primary benficiary. 9 years ago my parents divorced and just prior to the divorce she claimed to my father and to me and my sister that she terminated the policy. Looking at the divorce decree there it does not say that my mother retains beneficiary rights and does not mention the policy on my father in the property settlement agreement. There was no alimony or child support agreement. Would my mother's beneficiary status be revoked under NJSA 3B:3-14 if she has been secretly paying the premiums for the past 9 years and would the funds go to the contingent beneficiaries or to my father's estate?
My sister is the executor of my late mothers estate. She
My sister is the executor of my late mother's estate. She has already taken everything of value out of my mother's home, which I am not fighting her for. She now refuses to show me any financial documents of my mother's bank accounts, stock purchases or even of the trust that she established. I have received a copy of a "revocable trust agreement" which states that I receive 20% of my mother's residuary estate. However, I do not know how much that is, b/c my sister won't share documents with me. Do I have any legal right to see these documents, as a beneficiary of the estate?
How do I find out if my daughter has any beneficiary rights
How do I find out if my daughter has any beneficiary rights from her grandfather, a will was drafted the week he passed. He passed on 12/14/13. His son (my husband passed in 2010). The is extreme issues with in the family. He has 2 surviving daughters. There was an account opened when my daughter was born by her grandfather, when my husband passed one of his sisters was placed on the account. I do not know if the account still existed. This is all for my daughter, I want nothing.