QUESTION

i am 48 years old and i live on a trust fund. my mom is in charge of the money, she pays my bills, food and rent, but no extra money.

Asked on Sep 11th, 2011 on Trusts and Estates - Indiana
More details to this question:
my question is how do i go about getting her name off of my money?
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1 ANSWER

Mediation (Family, Estate, Elder/Adult Care, Divorce) Attorney serving Tulsa, OK at Gale Allison, PLLC
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First, I'd like to remind you that this is likely to drive a serious wedge between you and your mom, so think carefully before proceeding with legal steps. The Trust may have instructed its Trustee to pay for your rent, utilities and food only. Some Trusts are set up to make sure you have food and a place to live, but expect you to earn your own spending money. Others are set up to pay a certain amount a month toward your living expenses. Others...well, the options are endless. So here are things you should try: 1. You should ask for a copy of the Trust. 2. Read the Trust document. If you do not understand the language, hire an Indiana estate lawyer of your own to help you understand what it says. 3. If your mother is not administering the trust correctly, the Trust may give you the power to change the Trustee to someone besides your mom.4. If the Trust document does not give you the power to choose your own Trustee, then you will have to go court and ask a judge to remove your mom as Trustee and name someone else. • IMPORTANT: No court will remove a Trustee without what is known as "good cause." That means you must prove (show evidence) that your mom has either not administered the Trust correctly or has invested the funds poorly. To a court, proof will mean documents (account statements, canceled checks, letters from eye witnesses, etc.) that show she mishandled the money, rather than that she simply did not spend it the way you wanted her to spend it. Because this will harm the relationship between you and your mom, be very careful. Do not go to court without evidence of wrongdoing on her part. To your success,Gale Allison, Principal AttorneyThe Allison Firm, PLLChttp://www.theallisonfirm.comhttp://www.linkedin.com/in/GaleAllison
Answered on Oct 01st, 2011 at 4:31 PM

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