When can I expect the distribution of a Trust that I am a beneficiary of?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
When can I expect the distribution of a Trust that I am a beneficiary of?
I am a beneficiary in my deceased loved one’s revocable Trust; they passed away about a year and a half ago. I was told by a family member that I was named as a beneficiary, however I never received any notice so I contacted the lawyer handling the Trust. I was told that in fact I was a beneficiary but that no distributions can be made until the estate is settled. Since that time I have heard nothing more so I recently contacted the lawyer for an update. He told me that they are waiting for finalization with respect to tax payments before making any final distributions. Should I get a lawyer or is this a normal procedure for the handling of a revocable Trust?
Asked on September 25, 2014 under Estate Planning, Maine
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
I am so sorry for your loss. If the estate was large and had many assets then you can expect a longer wait time for distribution. And it is true that the Trustee should make all payments to creditors and file taxes prior to making any distribution. Generally speaking, the Trustee should have filed a yearly accounting so you can indeed ask for that. And it never hurts to have an attorney review the final paperwork before you sign on the dotted line. Good luck.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.