Go Back   LegalMatch Free Legal Advice Forums > Law Forums > Estate Administration & Planning
FAQ Members List Calendar Search Today's Posts Mark Forums Read

Find a Lawyer Now By Category:
Family & Divorce Criminal Defense Job & Employment Personal Injury LegalMatch on Facebook
  Real Estate Lawyers Immigration Business Lawyers Other Lawyers LegalMatch on Twitter
LegalMatch is Fast, Free and Confidential
LinkBack Thread Tools Display Modes
Old 08-19-2013, 12:27 AM   #1 (permalink)
Junior Member
Join Date: Aug 2013
Posts: 1
Trutees rights

My mother's trust reads that there is to be an equal division of the estate, minus a few mentioned loans that are outstanding. She wrote the trust in 2008 and since then there have been many other distributions and other loans. However she never updated the trust to include these figures. She trusted my brother and myself (co-trustees) to even everything out in the end. One of the siblings (a beneficiary) has borrowed a huge amount of money which is documented in the her bank registers. However no official paperwork was ever filled out. Do the trustees have any rights to "interpret" the vague language of the trust which says to divide her estate equally. Can we call all the the $ she's given out "early distributions" of the estate and subtract those amounts from the total left in the estate? We need to come up with an even distribution but that includes adding in transactions that occurred prior to her death.
Minusha is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Old 09-09-2013, 06:53 PM   #2 (permalink)
Senior Member
Join Date: Oct 2012
Posts: 326
As the trustee's it is your responsibility to make sure the trust is administered properly and if there is an uneven balance you should take action to ensure the estate is being distributed evenly otherwise their may be a breach of fiduciary duty.

Here is an article explaining the responsibilities and rights of trustees. http://www.legalmatch.com/law-librar...a-trustee.html

It sounds like some type of legal action is necessary to straighten everything out. Good luck.
rhinojd is offline  
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

All times are GMT -7. The time now is 11:42 AM.

Powered by vBulletin® Version 3.8.6
Copyright ©2000 - 2018, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.1.0
Copyright ©1999-2008 LegalMatch. All rights reserved. LegalMatch®, the LegalMatch
logo, and the tradedress are trademarks of LegalMatch. Patents Pending.