wills and trusts

glyn

January 22, 2007 07:24

Need some advice .My wifes father passed away almost two years ago the oldes sister was the trustee in charge of the will.She did not sell the house immediately but chose to live in free for a while lost about 100 grand as the market has gone down.Still sitting on about a 100 grand in the trust account and has never produced any accounts.Is this legal.

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  elkoholic

  January 22, 2007 07:39

  Perhaps grounds for a civil suit. Others will be able to answer that better than I. Did your father have a will or a trust? You are mixing verbiage so it is hard to tell. The answer may be both. The house may pass through a will but the cash may pass through a trust. Bottom line is you need to get your hands on all the legal documents for your father's estate and if your sister won't execute the docs you need to get a lawyer.
  
  I think it is a bad idea to have executors of wills and trustees as family members. The emotion of the loss plays havoc with people's judgement.

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  Captplaid

  January 22, 2007 07:45

  My FIL named my BIL as executor in his esate. I'm sure he will end up with the majority of the estate when the time comes, inspite the fact that there are three children. He'll at least try.
  
  When my BIL's wife's mother died. It was interesting to sit back and watch the different family members jockey for position of leadership while attempting to put others down. Real pissing contest in the first few weeks. It didn't mean anything to me. It wasn't my family, so I could just sit back and watch.

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  glyn

  January 22, 2007 07:48

  It was a trust.I thought accounts had to be produced so all the family could see where the money went.She cashed a CD last spring for $23000 sold his car for $6000 and is still holding this.In all we think its about the $100000 she is holding on to.just dont seem legal or right to me.

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  He Dog

  January 22, 2007 07:48

  See a lawyer, with the exception of 3 or 4 posters here, you will be betrer off with our gun advice than our legal advice.

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  glyn

  January 22, 2007 07:51

  Could always do with the gun advice He Dog.

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  He Dog

  January 22, 2007 07:55

  Glad to help! With the exception of the single action revolvers, Rugers have crappy triggers. If you plan on buying a Ruger, plan on replacing the trigger or having triger work done. That is good advice, free to a good guy.

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  dcon12

  January 22, 2007 08:11

  quote:Originally posted by He Dog
  Glad to help! With the exception of the single action revolvers, Rugers have crappy triggers. If you plan on buying a Ruger, plan on replacing the trigger or having triger work done. That is good advice, free to a good guy.
  
  
  How come I get no free advice? Don

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  He Dog

  January 22, 2007 08:13

  eat more pecans.

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  EVILDR235

  January 22, 2007 19:35

  Wal-Mart has a sale on shovels and trash bags going on right now.
  XXXXXX

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  select-fire

  January 23, 2007 01:34

  IF you were listed in the will or trust the executor will send a final statement of dispursment of the estate. ( how it was split up ). It will also be used to determine how much taxes ( if applicable ) each recipicant is responsible paying to the state.

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