QUESTION
My deceased parents home in New York was in a Trust. My sister is the trustee. She sold the home May. How soon must she pay the beneficiaries?
Asked on Jan 30th, 2019 on Trusts and Estates - New York
More details to this question:
As a condition of the trust, personal loans owed to my parents far to be deducted that beneficiary. There are three of us. The trustee owes approximately $11,000, plus interest for loans from 2004 and 2005. She has an additional $7,000 in outstanding loans. In total it comes to about $26,000. She is trying to find reasons not to have to pay the funds back. I posesd the records of the loans that were made and have forwarded them to the trust attorney. Do I need to file an action for the trust to be settled?
1 ANSWER
1 Award
The answer is governed by the trust documents. But, in the end, you need to sue to get the money if she will not pay.
Answered on Feb 01st, 2019 at 6:36 AM