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I have been left trust funds in a will that is to provide…

I have been left...

I have been left trust funds in a will that is to provide income to me instead of just a cash settlement.I have no children so no one to benefit from the fund when I die

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

New south Wales with

Lawyer's Assistant: Has anything been filed or reported?

I am not sure what you are asking. The estate is in the administration phase.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

I was wondering if I would have any chance of changing my inheritance from the Trust arrangements. They say the money is mine when I die.I have been treated differently from the other SIBBLINGs

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Answered in 1 hour by:
3/13/2018
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,720
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Hi, I am Leon, a NSW Solicitor. I am reviewing your question and will reply again in a moment.

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Good Morning

Was this in a Will?

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Customer reply replied 4 months ago
My Mothers will. A trust fund was made for me that was different from the other SIBBLINGs.They get half theirs in cash and half in trust.Mine is all in trust.It becomes mine when I die.I have no children. She left more for me since I was her main carer

Good Morning,

how long ago did your mother passed away?

As this is a trust under a will, you are able to make an application to the court to have the trust of varied.

You're going to have to show the reasons for having a varied and will then be up to the court to decide.

You will also have to speak to the trustee, and ascertain whether they are prepared to consent to your request which will make it easier when the matter goes to court.

It is not impossible to do but it will have to be done by court order to vary what your mother's wishes were.

You will need to have your own independent solicitor to represent you in court, and the trustee will have theirs.

If there is agreement, then the cost will be minimal.

If you wish to have a phone call to discuss this in more detail please elect a call or I can send you a request.

I hope this makes sense and is of assistance. If you have found my answer to be helpful, please rate me five stars so I can get paid for my services to you. You rating my work 5 stars allows me to continue to provide a service to those who require it.

I am happy for you to ask further questions on anything you wish more detail on.

Let me know if I have answered your question today.

Regards

Leon

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Customer reply replied 4 months ago
My mother passed away six months again

Good Afternoon

So probate has not yet been finalised?

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Customer reply replied 4 months ago
Probate has gone through
Customer reply replied 4 months ago
I would like to remove my inheritance from the Trust arrangements completely. Is this possible

Good Morning,

in that case you need to speak to the trusty and request the amendment be made by consent.

If they have not yet established a trust then this can be done by you by both entering into an agreement and filing with the court.

If the trust has been established and the estate is distributed then you will need to get an order of the court to change the situation so that the trust can be amended.

But you will need to have your own solicitor.

You are within your rights to seek that the trust be dissolved and you be given the full amount. But if the trust is not prepared to do so then you will need a court order.

I hope this assist you with your further enquiry

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Customer reply replied 4 months ago
I have no one to leave this large amount held in trust fund as I have no children. And yet I only get a income from it when I die I own it all.It seems rediculus

Good Morning,

You have a right to seek that the trust be set aside. The law is on your side but as there is a trustee you will need to go through them

If they refuse then you will need a court order.

The courts will generally set them aside if the beneficiary requests and there is no real reason for the trust to be in place

Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,720
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified
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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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