QUESTION
What documents do I need to claim money from a trust?
Asked on Nov 02nd, 2011 on Estate Planning - New York
More details to this question:
My mother died 3 years ago with a Living Trust in place. We were recently notified that an aunt in England, who predeceased her, left money to my mother's sister who also predeceased her. My mother's sister named my mother as the beneficiary of her estate. This money was only just discovered and has been sitting around for nearly 15 years in an attorney's account. I am the only trustee of my mother's trust and an only child. What do I need to show to these out of country attorneys to get this money? I have shown them the trust papers but they are claiming that the trust is closed and this money is coming in after the trust.
4 ANSWERS
3 Awards
You should speak with a probate attorney. Your aunt's estate probably needs to be probated in the State where she resided to obtain an order in favor of your mother. If her estate was already probated, you will probably need to reopen her estate to address the inheritance. Since your mother had not put the inheritance in her trust before death, you will probably need to probate her estate as well to fund the trust. If her estate was probated already, you will probably need to reopen it. Since she had a trust you may have avoided probate in the past, but this new asset will need to be probated.
Answered on Nov 04th, 2011 at 11:22 AM
Tax Attorney serving Portland, OR
at
Bullivant Houser Bailey PC
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Technically, you probably have to open a probate for your mother's estate which would then pay the money to the trust. You might be able to convince the foreign estate to skip the step of making the payment to the estate. If I were the lawyers for the aunt's estate, I would not advise the personal representative to pay to the trust because that doesn't protect the personal representative if someone claims your mother's will is invalid or if a creditor comes out of the woodwork.
Answered on Nov 04th, 2011 at 9:40 AM
Trusts and Estates Attorney serving Jacksonville, FL
Partner at
Law Office of David M. Goldman PLLC
3 Awards
You should ask them what they want.
Answered on Nov 03rd, 2011 at 10:15 PM
Theodore W. Robinson
You need the assistance of an Estate Attorney who can take over this matter for you and recover the money that is rightfully yours. Just because the Trust is "closed" doesn't mean the moneyshould hang out in limbo somewhere in an attorney's account gathering dust. It means an attorney must file an Estate Proceeding for the Estatesand/or the Trust and then get the money released to you since you are the Trustee and the sole beneficiary of the Trust. Hire the attorneyas soon as possible.
Answered on Nov 03rd, 2011 at 9:43 PM