Trusts Legal Questions

Hello.  It sounds like you are a beneficiary but not the co-trustee as well, correct?  You can petition the court for an accounting and request the court to remove him as trustee.  You may be able to replace the trustee yourself; it depends on a few factors.  But it all starts with an accounting to see what you have/no longer have and see if the trustee (s) is/are doing their job.   If the trustee has been violating the trust than you could get your attorney fees paid by him when you force him out.  It depends how bad he was and how the trust reads before I can tell you if he would lose inheritance.   ... Read More

Please accept my condolences on the loss of your mother. A Will is not an irrevocable trust, so it's not clear to me what the reference to "Irrev Trust dtd" is your question is for. A Will and a trust are two different documents, although a Will can provide for the creation of a trust. Depending on how the document your mother had prepared was drafted, you may not have a lot of rights to receive information about it, especially if the document is a trust, rather than a Will. A person who creates a trust has the right to prevent beneficiaries from becoming entitled to receive much information about the trust. If you really are a beneficiary, you'll eventually receive something, but you may never be given all of the information you might want to see. If your mother DID have a Will, however, and if that Will has been offered for probate (which may or may not have been necessary, depending on what your mother owned and how she owned it), then you can contact the probate court for the county where she had her principal residence (I am assuming she also lived in Georgia- if not, then this answer may not be correct) and ask them to send you a copy of the Will and anything else that has been submitted for her probate. You'll need to pay for the copy, but it's not that expensive.  As for finding the law firm that prepared her Will, if you aren't the nominated Executor, then the law firm likely won't be able to provide you with information directly unless the Executor says that they can, so I wouldn't waste a lot of time trying to figure out who they were right now. Unfortunately, if your sister is not providing you with information, you may need to hire your own attorney, one with estate litigation experience, and have the attorney send her a letter demanding information. This is especially true if no Will has even been offered for probate, because you can't get information from the probate court if they don't have it. Get a consultation. Best wishes to you.... Read More

If there is not a will,  your aunt is correct in that you and any of your siblings would take the place of your mom who has since passed away. In order to determine whether you and your sibling(s) would take your mom's place in the distribution would be determined by your grandmother's will.  It will depend upon what the will says will happen when a beneficiary (your mom) passes away before the will maker (your grandmother).  You should call the attorney who is handling the probate matter to confirm that the will has your mother's decendents (you and your siblings) receiving any distribution.  This is a very common situation where the children take the place of their deceased parent when a grandparent passes away.  To be sure, give the attorney a call to confirm this.  You will want to be sure to give them your contact information as well so the attorney can get it touch with you and/or would know where to send a check.  ... Read More

If you are listed as the POD on the bank account, you should be the only person entitled to the proceeds in the account after the titleholder's death.  Even if a testamentary document, such as a Last Will, states that others are to receive monies from that bank account upon the titleholder's death, the title to the bank account will control over the terms of the will.  If you would like to discuss this more, please feel free to reach out to me. Tel.: (561) 717-9854 Email: jordan@jwjacoblaw.com... Read More

No need for a trust or will at this time.  Just put family members as names on the account for TOD (Transfer on Death).  Should be able to name them as beneficiaries on the 401k.  A trust though would be more appropriate if beneficiaries are under 18, or there is some other reason the family members should be treated differently.... Read More

Your question is not clear. If your mother is still alive, you have no rights to see any of her documents. If your mother is deceased, the trustee of the trust is obligated to send out a court-mandated mailing to all trust beneficiaries and all "heirs-at-law". You would at least be in the category of an "heir-at-law" (a person who would inherit if the decedent hadn't made a will or trust).  ... Read More

No, there is nothing automatic about the surviving spouse receiving all property. If you and your wife held the property as joint tenants, or as community property with right of survivorship, you can just file a couple of forms with the county to prove she is deceased and you're the surviving owner. I recommend you hire an attorney for this. They can generally complete everything required in a couple of hours, so it shouldn't be too expensive. However, if you held the property as community property (without the words "with right of survivorship" on the deed), if you owned the property as tenants-in-common, or especially if the house was solely in your late wife's name, you will have to go to court to resolve the property ownership. Depending on the circumstances, an attorney may be able to file a Spousal Property Petition, or may have to do a full probate.... Read More

When you say you "inherited" your mother's house, what do you mean? The answer to your question depends on whether: (1) Your name was also on the property. You just need to file some forms with the county to be sole owner. An attorney can help with that, or you may be able to do it yourself; or (2) Your mother had a trust which named you as a person to inherit the house. You just need to file some forms with the county (more than in #1); most likely you should have an attorney help you with this; (3) Your mother named you to receive the house in her will. You haven't inherited anything until you probate the will. That's a court procedure for which it is highly recommended you hire an attorney; or  (4) You are your mother's only child, and she wasn't married when she died, but there is no will or trust. Again, you have to go to court for  a probate, for which you should hire an attorney. Best of luck.... Read More

Hello. My name is Damien. I am a Trusts & Estates attorney practicing in the NYC metropolitan area. It sounds like you are referring to the Secure Act: Setting Every Community Up for Retirement Enhancement Act, commonly known as the Secure Act. The Act states in part that if someone inherits money from an IRA or 401k plan (from someone other than a spouse), the person has to withdraw the full amount within 10 years. Before, you could stretch the distributions and tax payments over the beneficiary's life expectancy. Now you would have to withdraw over a 10 year period (with some exceptions). Even if you drafted a trust that says it is over the life expectancy, that trust would only be "grandfathered" if it was already in effect. So, if someone inherited an account on December 31, 2019, or prior to that date, the terms of the trust would be grandfathered and that person could continue to take distributions over their lifetime. There are some exceptions, including the surviving spouse, a disabled or chronically ill person as the beneficiary or someone less than 10 years younger than the account owner, or if there is a minor child of the account owner (there does not seem to be an exception for grandchildren). So, a minor grandchild who could have stretched the payout period over 60-70 years, for example, would have to take the payout over a 10 year period (note that in the case of a minor, a guardian or custodian may have to be in place to accept the money on behalf of the minor). A possible alternative instead of a conduit trust could be an accumulation trust  This trust could give the trustee more discretion to make a distribution, albeit it could result in higher income taxes. If you need any assistance, a New York Trusts & Estates Attorney could help you. If you wish to speak on the phone about it, you can call Damien Bosco, P.C. at (646) 452-7082 or email me at DamienBoscoEsq@gmail.com... Read More

If you have real estate or assets totalling $166,250 or more, you will likely need a revocable living trust to avoid expensive and time-consuming probate.  In addition, a durable power of attorney and advance health care directive will allow you to authorize others to make decisions for you if you become incapacitated.  You should speak with an estate planning attorney to discuss your options and to develop an estate plan that meets the needs of you and your family.... Read More

You have to see what time of plan is involved.  Depending on this, you might have to go to court, or might be able to deal directly with the employer.  As to your father's involvement, was he listed as a beneficiary on the plan if your mother were to pass?  Even if not, a question is whether he is entitled to anything since he may have been living with her when she earned the money.  Were they legally separarted?... Read More

Normally, a trustee is not required to get the consent of or provide notice to any beneficiary before selling trust property. That said, the trustee IS normally required to provide at least the main beneficiary of a trust with information about what is in the trust and what has come in and out of the trust in any given year, unless the trust itself limts the beneficiary's right to that knowledge. So, if your sister is your trustee and you are not receiving ANY information, then you should contact an attorney who is experienced in working with trusts and have the attorney help you figure out what your rights are and what you should have been receiving, along with your options for correcting the situation. It may be that you can have your sister step down (or have her removed) and have a different trustee brought in, if she really isn't doing a good job. Best wishes to you.... Read More

The trustee is the legal owner of the trust, but owes a fiduciary duty to the beneficiaries. The trustee can only do what the trust allows the trustee to do.  An accounting is owed to the beneficiaries.    I would have to review the trust before I answer your question. You can contact me at 305-283-4785 or e-mail me at sgarciavidal@garciavidallaw.com.    Thank you. ... Read More