What is the name of your state? CA
Hey All -
I am a beneficiary of a Living Trust. Trustor (Dad) died two years ago.
Dad left me a house, valued at 300K, no mortgage, rental property. Left sister / Successor Trustee 100K POD account and his house, valued at 400K. She has transferred title of this house to herself, but has not transferred mine to me. Has been collecting rent (from my house) and using that income to pay off final expenses of Trust.
Finally received accounting last week (I had to retain legal counsel just to get her to communicate with me - which has her extremely upset with me, unfortunatly) Accounting claims 70K in final expenses ($40,000.00 in legal fees and $20,000.00 for Successor Trustee fees!) Both properties were paid off, no mortgages, no investments, no nothing outside of these two properties - a very cut and dry Trust which I thought, and she led me to believe - could have been finalized in six months - and for far less than $70K
Anyway - the tenants in my property vacated last August due to problems with Successor Trustee - now Successor Trustee wants the court to put a lien on my property to pay these lost rents, as well as the expenses mentioned above. And no, I've not seen a penny of these rents - and there is a lot of damage to my property.
Of course, I am objecting to this accounting. My questions are this:
1) Does Successor Trustee have to provide a detailed accounting of expenses? This accounting just says, "Received this much $$$, and paid this much $$$$". No assets, debts, nothing.
2) What happens to Successor Trustee if it is proven that she has totally mismanaged the Trust?
3) Can she be held liable for damages to my property?
4) My property has sat empty for the last 6 months as Successor Trustee refuses to make repairs, try to rent it or release it to me so that I can take care of it, however, she want's the court to put a lien on my house for each month that goes by with no rent?
5) Do I have any recourse in any of this?
Please excuse my ignorance and rambling - I'm just horribly frustrated and confused.