QUESTION
Should I accept and sign for a check from the wills trustee before a list of trust assets proceeds and expenses has been provided
Asked on Dec 06th, 2021 on Trusts and Estates - Michigan
More details to this question:
My grandfather passed away this month Then yesterday in the mail I received paperwork about the will from my grandfathers attorney. My uncle is the trustee. ( Not a close family ) The papers say my uncle is selling the homes all the land and assets.I will receive listing of the trust assets As well as full accounting of trust proceeds and expenses by the trustee as he completes his duties pursuant to the trust. The trustee my uncle contacted me saying he’s sending a check I have to be home and sign for. What should i do
1 ANSWER
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Under Michigan law, a Trustee is required to provide notice to all of the trust beneficiaries within 63 days of them accepting their responsibilities. That notice ideally would include an initial inventory of assets and a description of what your beneficial interest is. For instance, do you receive certain property or a % of all of the trust assets.
If you are being provided a check and being asked to accept it as a distribution without anymore information, I would hesitate to do that without consulting with an attorney and providing more information.
I hope this is helpful!
Answered on Dec 16th, 2021 at 6:30 PM