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Richard, Attorney
Category: Estate Law
Satisfied Customers: 55699
Experience:  29 years of experience practicing law, including tax and estate planning.
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My older siblings; one 16 the other 12 years older, have had

Customer Question

My older siblings; one 16 the other 12 years older, have had about $60,000 from my mother's trust account in the past year. I only know because my mother asked me to look at her bank statements. Neither sibling said anything to me. It is her money and she can do what she wants. But it's odd it happened while I was away for many months in Canada. I asked my sister about it but she said "don't judge". Should I be concerned? It is a trust account and I am co-executor with my brother on her will and I'd assume trust account.
My father wanted my mother to not worry about a thing. He left her with the house paid off and a good bank account. I'd like to keep it this way as she is almost 92 and frail and needs some back up to stay in her home. I want to make sure that money is there for her care.
Submitted: 2 years ago.
Category: Estate Law
Expert:  Richard replied 2 years ago.
Hi! My name is ***** ***** I look forward to helping you!
Can you provide me a bit more information? Did your mother know about this $60,000 in withdrawals and did she approve them? Is this a revocable or irrevocable trust? What does the trust agreement provide with regard to distributions and who is entitled to distributions during you mom's life? Thanks.
Customer: replied 2 years ago.
it's an irrevocable trust. My Mother who is from England frequently gets confused between pounds and US money. So yes she knew about the withdrawals. She said your brother can't even buy a sandwich and went back and forth to the bank transferring $5,000 to my 66 year old brother who had a salary of $150,000/yr up until last year and has his own home. The trust is written that the distribution of money is amongst the 3 of us. I am co executor of the trust along with my brother. When I read the trust it said something like if my brother and I agree the moneys can be used for my mother's care.
Well that's what I thought. For my mother's care first.
Customer: replied 2 years ago.
Oh sorry I could be wrong it might be revocable. I should get a copy since I'm co-trustee. I have a revocable as well.
Expert:  Richard replied 2 years ago.
Thanks for following up. Would it be possible for you to provide me the specific language regarding distributions?
Customer: replied 2 years ago.
But yes, she did approve the withdrawals. She doesn't seem to know the difference between $10,000 and a $100,000 and that is what worries me.
I don't have the trust in front of me but I know that it calls for equal distribution of all monies in accounts, the house is under our 3 names, my brother has 1st refusal to purchase it. Again, I'm co executor with my brother. It took my brother 8 months to sign this although the office sent it to his work & home. I'm just disturbed that she might be taken advantage of. I'm financially independent.
Expert:  Richard replied 2 years ago.
Thanks for responding. I don't think I understand the entire situation well enough to be confident that I can provide a complete and accurate assessment. Therefore, I am going to opt out to open your question up to all experts so another expert can hopefully timely provide you the information you seek. Please do not respond to this post as it will only slow the process of such an expert picking up your question. Take care.
Customer: replied 2 years ago.
oh not good. it was quite simple. I think that I know the answer. The money is in a trust account, it's my mother's for all purposes when she is alive and she can spend it, give it away as she wishes. That's the law. But the question is , is she being taken advantage of? She isn't quite aware of how much money she's given is my observance. That's disturbing.
I answered my own question. She needs a medical evaluation. If they deem her in a right state of mind then fine she can do what she wants.
I hope that I didn't pay for this! Are you really a lawyer?