QUESTION
recently my son-in-law passed away. My daughter was named the beneficiary of his will, which stated that after all debt was settled, the remainder of
Asked on Aug 09th, 2013 on Trusts and Estates - New Jersey
More details to this question:
the money was to be put into trust funds for his 3 children. He also named a trustee to help facilitate this. To date, my daughter has not put any money in trust for the kids and is spending the money on herself with expensive jewelry, vacations, etc. My question is what legal rights does the trustee have to force my daughter to set up the trust accounts for the kids before the money is gone. It's been 4 months and she has already spent almost half of what she received from his life insurance.
1 ANSWER
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You have a couple of different questions included in there. First, if she was named as the beneficiary of his life insurance policy, that is separate from the will and is not included in what she needs to do with the trust. Second, you have to get the trustee (or the executor if your daughter is not the executor) to enforce the provisions of the will on behalf of the minor children. The trustee should ask for an accounting of the monies form the estate, what was spent, and what is going into the trust. The trustee can require her to do this by filing an action in the probate court an challenging the will. If you would like to discuss this more, please contact my office on Monday.
Answered on Aug 09th, 2013 at 3:48 PM
Diana L. Anderson, Certified Elder Law Attorney This response is not legal advice and does not establish any form of attorney/client relationship