What to do if my mother has been deceased for over 14 months and she left a trust which names myself, my brother and my sister?
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What to do if my mother has been deceased for over 14 months and she left a trust which names myself, my brother and my sister?
In the trust are assets and several bank accounts. My sister is named the primary trustee to execute the trust. At this time she has not been forthcoming with the assets of the trust and has continued to keep separate accounts. My questions is wasnt she suppose to consolidate all monies into the name of trust? Wasnt she suppose to distribute the monies by now. She is hiding information from all that is named in the trust. I need clarity.
Asked on March 10, 2013 under Estate Planning, California
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
You should consult a trust attorney for advice. I assume you have a copy of the trust agreement itself? The assets and bank accounts should already be titled in the name of the trust. Your sister would not have to "consolidate all monies." The trust agreement will say what was to happen to the assets upon your mother's death.
Trust agreements are very flexible and can be very different. Therefore, I cannot even speculate as to what your sister should be doing. You need a lawyer to read the agreement itself. If your sister is not carrying out the instructions of the trust, she can be removed as trustee.
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