Legend
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Locate the trust document or the attorney who drafted it. All I can tell from what you wrote is that you are the beneficiary and Betty may be the trustee. The trustee has a fiduciary duty to manage the trust appropriately which includes providing you with up to the minute reports of its use. |
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r c
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you better get a lawyer to read the documents |
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part_e_gurl2001
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What a mega *****!
Get a lawyer man. That does NOT sound right! |
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Ski owl
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consult your own lawyer. sounds underhanded to me. |
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♫
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I think you should call a lawyer and get their opinion.. because I'm almost positive that you should have ALL of that money, and she shouldn't have had rights to any of it, and may even owe you if you go to court.. good luck |
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-RKO-
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Call a lawyer.....NOW - before it's all gone! |
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Merve
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If you are really the remainderman or some type of beneficiary of the trust, you should speak with a lawyer and the trustee (proably the bank who administers the trust). Many trusts are set up to support the life of some beneficiaries (perhaps Betty fit into this category). You need to check to see how the trust was written.
One good thing for you is the trustee is legally responsible to make sure your portion of the trust is not imprudently diminished. Usually what happens is the beneficiary gets a monthly or quartery check - usually just interest - from the trust, and when they die or when you reach a certain, prespecified age, you get the principal. In this case $100,000.
One last thing - I know Betty is not your Mom - but apparently your Dad loved her and did get her involved in his financial matters. Depending on how the trust was set up, she may be telling you the plain and simple truth according to your father's wishes. I know $100,000 is a lot of money - but nothing is worth getting dragged into suspicion and hatred and an extended family squabble. Life is really much to short. |
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bud68
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The answers depend on the structure of the trust. It may or may not name you as beneficiary. Do you have access to the trust documents? |
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Ceeeeya
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get a lawyer. ASAP |
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wiemercats
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Hire a trust attorney and sue her as fast as you can. She does as surviving executor to your fathers estate have the right to spend moneys for legal expenses and distribution of the estate. But she can not withhold or alter the dollar amount or the timely distribution of your inheritance unless there was a clause stating such. Like if your dad wrote I give my son $100,000 on his 30th birthday, or he will receive it in installments over a 10 year period. She can not change the benificiaries to include her sons. Hurry before she spends it all. |
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juz098
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Smack that *****. If your dad claimed that trust fund in your name, legally you are an adult, therefore you are entitled to that! She cannot use that for her own expenses nor can she give them to her sons. She is lying to you and do not take that YOU ARE ENTITLED TO THAT MONEY! |
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browndogzzz
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Get a lawyer |
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Sox=2005 champs Cubs=hmm when?
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YOU fATHER WHO LOVES YOU, wanted that money to go to you. If your mom didn't mention anything about the money belonging half to someone else, DON'T trust them! AND DON'T LET THEM TAKE THE MONEY OUT! Get an attorney like the other peoplke said. I hope you get that money! And don't let her hoodwink you into giving it to her! Plus, if she is telling you this, she might want you to say o.k. and hand it over to her. I'm glad you caght this!GOOD LUCK! |
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Jojo
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Because it's a trust, I assume you are the trustee and she is the trust holder. Legally, she can if you were under the age limit set or unable to handle money. But it depends on how the will, etc. was stated. However, if you think you are responsible enough (and I would assume so) for the money, and she is being unreasonable, I would contact a lawyer immediately. If she is not the trust holder, then she can't do anything. Do some research and find out. Most trusts have something regarding an age limit in the legalese, but not all. |
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jtrall25
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Get a lawyer - Fast. First thing to do is slap an injuction on your Step-mother for touching that trust or any interest accured from the principal, and to stop her or anyone else from removing funds or finacial instruments from that fund until you have been legally recognized by the Courts as the beneficiary of the Trust.
Then get your lawyer to draw up and serve a writ to compel your step-mother to account for the trust principal & all interest accrued, and see how the instrument is drawn and what the terms are, and who if any was signed as administrator of the trust, and who witnessed the trust signing. Also note the date at which the trust is to be turned over to you, rather than a vague statement such as "When you were ready for it". (None should be necessary once you met a majority age of 21, because at that time the trust should have been either turned over to you, or to the bank board of trustees, if your mother stipulated a structured payout schedule). A "verbal" claim by your Step Mother is, (I think), trumped by your blood-line, and acknowledgement of your father's stepwife that she understood that the trust was yours.
Your step-mother's claim that she can just arbitrarily start robbing the trust for living expenses because she is retired is ludicrus, and the claimthat she can divide it between you and her sons is false I think too. HOWEVER, all of this depends on the probate laws of your State. So no matter what seems logical or fair, or just has nothing to do with the law. So go get your own lawyer now - and get the slimest, most venal, unethical, a fire-breathing, baby-stealing, lying, but winning rascal you can find and sick'em on the other side, (better to pay a rat some of the cheese and keep the rest, than to let a pack of rats steal all the cheese.
Good luck to you. |
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kahnaguy
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Guess you are still not ready for the money if you do not realize you should have had an attorney taking care of your legal needs as soon as you found out about the trust...duh...go sit in the corner and suck your step moms toes. |
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STEVEN F
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Have an ATTORNEY review the terms of a trust. Depending on how your dad set up the trust, you may or may not be able to access the funds and his widow may or may not be able to use the funds. ANYONE that has not read the trust can only GUESS. Even an attorney can't make an EDUCATED guess without reading the terms of the trust. |
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school_buttercup_blue
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Go to court,get a good lawyer,and tell the judge all about that.you should win the money over.And didnt you get a paper or papers that tell you what you get and if so did u keep it? |
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Jim Kirby, CPA/PFS, CFP, CFS
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Ask to see a copy of the trust. If you are lucky enough to get it, read it. Many times one spouse will leave money to a surviving spouse and then it passes to his children at her death. It is possible that that is what the trust says. The trust could say anything and you don't know how to proceed until you know exactly what it says.
Sometimes states have rules that permit beneficiaries to obtain information in cases like yours. You might want to spend a few hundred dollars and talk to an estate and trust attorney in your state. You can locate a competent attorney that works with trusts and estates at www.martindale.com. There may be enough at stake that that would be a good expenditure.
I doubt if your dad put a provision in the trust allowing your step-mom to give the money to her children but no one can tell without reading the trust.
Step-families suck when it comes to estate and trust matters.
Good luck.
Jim Kirby, CPA |
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margie k
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Do you have proof in writing of this - will etc. if so contact a lawyer asap. If you don't have proof in writing you can ask a lawyer but don't expect too much. This is why all important things should be in writing with a copy given to a lawyer. |
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Melissa K
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get a lawyer. i'm not even kidding. they'll more than likely be on your side since your your dad's blood and the money should be passed down to you............ even though your dad's wife was married to him and all, she wasn't blood related...... they should give it to you......... i think............. hopefully........... good luck? |
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aida
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Get to a lawyer as fast as you can. (Too bad tomorrow's Sunday!) If there's a lawyer who handled your parents'affairs before their divorce (and preferably didn't represent your father in the divorce), he or she would be ideal. One question you and the lawyer should address is what your father meant by "ready for it" and in whose opinion you were "ready." My arithmetic suggests that you were already 21 when your father died, so be prepared to be asked why you didn't bring the matter up sooner. |
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zelda55605
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im guessing by all of the votes, get a lawyer |
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MICHAEL T
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A trust can not be released to anyone accept the trustee. Who evers name is considered the "TRUSTEE" gets those allocated funds. Go out and grab a lawyer who will order a copy of the trust and this will all be decide. There will be no court battle. The trust ($$) goes to the trustee. Good luck and enjoy all the drama that comes with family money! FOR GOD'S SAKE, YOU ARE 28 YEARSOLD! |
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kironde h
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my suggestion take it up with a lawyer because if he left it to YOU then its YOURS |
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Diana G
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I'd hire an attorney that specializies in Will's and trust. You need to check on this fast. They may have already spent most of it. i hope for your sake this is not the case. You should have a copy of his last will and testement. |
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mynee25
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Here is a REAL answer, contact an estate lawyer, you are of age (not a juvenile) if the will doesn't stipulate a set age, then you should be able to access that money. DO NOT take her word on what her lawyer says. There are different laws and different interpretations of them. If the two of you disagree, then she can put a hold on the money (freeze it) until the courts make their decision. you will have to pay a lawyer, but it's better to pay the lawyer than her. Also, call some lawyers, some will give you a free consultation to tell you how they can help you. Also, don't spend it all!! If you get a financial advisor (offered by most banks free) they can help you invest it for the future and for any children you have or may have. GOOD LUCK! |
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Amy R
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You are 28! Get a lawyer!!!! |
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rooster_cruzer
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If you're not smart enough to go see an attorney then you don't need the money. |
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heismanguy
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a good lawyer |
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â–“ old doc â–“
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if it is in a trust with your name on it....it's yours...she can't legally touch it. hire an attorney asap |
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