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Richard, Attorney
Category: Estate Law
Satisfied Customers: 55716
Experience:  29 years of experience practicing law, including tax and estate planning.
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My brothers two children have a trust fund set up for them

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My brothers two children have a trust fund set up for them when they turn a certain age. My question is how do they get there settlement? Do they need to get a lawyer or what?
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. Who is the trustee of the trust? Thanks.
Customer: replied 4 years ago.

XXXXX XXXXX and Kelli Long

Customer: replied 4 years ago.

Thank you. The first step you would take is to send them a letter by certified mail informing them that the two children have reached the requisite age and demand that the assets held in trust for them be distributed immediately. Should the trustees not respond to this, then you would need to take more proactive measures. The trust and its assets are not the personal piggy bank of the trustees. Rather, the trustees are obligated to administer the trust specifically pursuant to the terms of the trust. In addition, the trustees' fiduciary duty to each beneficiary requires that the trustees 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 trustees' fiduciary duty to the grantor of the trust and to the beneficiaries. Such a breach gives the beneficiaries cause to ask the trustees to resign and if the trustees refuse to do so, gives the beneficiaries the right to file a petition with the family court asking the court to order the trustees 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 trustees.

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