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I was left a trust fund in the 10 million dollar range and

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it was supposed to provide...
I was left a trust fund in the 10 million dollar range and it was supposed to provide me ( and a twin who is now deceased) with medical care as well as education for my children. It also provided for our step father with an income for life from the interest earned off certain parts of the principal and allowed him our mother's personal bank accounts of 2 million. The trust named just her children as beneficiaries for the purpose of distribution of the principal.Trustee wants to deny my minor child an education (my step father) and cut off my medical despite the fact I am chronically ill for more than 10 years with Lupus and Cancer and unable to return to work for these reasons which is essentially a death sentence because I am only allowed a stipend of $2000 a month. I haven't even had an accounting once in 12 yrs. despite being permitted reasonable accountings. What do I do now to keep him from killing me and running off with my trust money?!?!?!
Submitted: 7 years ago.Category: Legal
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Answered in 23 minutes by:
3/4/2010
Lawyer: FLACORPLAWYER, Attorney replied 7 years ago
FLACORPLAWYER
FLACORPLAWYER, Attorney
Category: Legal
Satisfied Customers: 4,634
Experience: 23 Years as attorney, licensed NY and FL. Former US ATTY.
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Unfortunately since the lawyers have to get paid from cash assets of the trust, if there is no real cash and it is all investments it is hard to get paid. Technically, they could force the trust to sell off some assets but that is assuming that they win the lawsuit. Demand an accounting of all trust funds to the trustee by means of a certified letter, return receipt requested. You are not getting much off of 10 million but then again there are a lot of beneficiaries of this trust. Please keep trying to interest a MO lawyer in this case. Contact the Mo Bar Association and ask them for a referral to a wills, trusts and estates specialist. In some cases, the trust can be forced to break into the assets to pay a lump sum for an emergency.
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Customer reply replied 7 years ago
At this time my step father/trustee is allowed an income until his death but as it has been explained, is not a beneficiary. The trust is divided in three parts, Family, which gives money for education and medical is supposedly empty but with no accounting who knows, but it benefits myself and my two children though it has been paying for a step child who was very blatantantly left out on purpose by my mother for excessive amounts for mental health and continued drop outs of school. It seems to me those funds were misappropriated. The second trust incorporated was the residual trust which was to cover all final expenses for my mother, my twin, and myself and taxes. When my sister passed, when step father made me pay out of pocket for her final expenses anyway and has blackmailed me to repay him for these amounts despite not having provided them. the third trust incorporated was the residuary trust which had two beneficiaries, my twin and myself with either of the surviving twin becoming sole beneficiary should one of us predecease the other and being divided per stirpes if both of us should pass to my children (biological only) and then to charity if the children were no longer surviving. No funds ever passed to my step father/ trustee. How is it that his needs could outweigh mine when the trust provides for care in the event of illness or disabling health concerns that would allow hime to continue to decide to just cut me off when there is no other means of keeping me alive? What would constitute e3nough of an emergency to allow for a lump distribution when there has been nothing but bad faith and extortion and blatant mishandling of funds? How would you recommend approaching an attorney about this case and what would you do if they have still failed to produce accountings despite sending them the certified letters etc. including to the so called trust attorney and the trustee/ C.P.A. who should be familiar with the term reasonable and its applications in this context?
Lawyer: FLACORPLAWYER, Attorney replied 7 years ago
You are posing (from my count) no less than 20 different issues about a generation-skipping, complex divided trust, misappropriation, fraud, testamentary intent, emergency, extortion, accounting, and many others. You can see that it is not possible that anybody will be able to untangle this for you by means of a website designed to answer one simple legal question at a time in limited space? You must secure counsel, whether you pay them, or they petition the court to have the trust pay them. Contact the Mo Bar Association and ask them for a referral to a wills, trusts and estates specialist. Demand your accountings by mail.
FLACORPLAWYER
FLACORPLAWYER, Attorney
Category: Legal
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