What is the name of your state? MI.
More info for all. There are 2 trust left by my wifes grandmother.
First trust the she is to get one unit or 25% of the balance of the trust.
Second trust she is to receive immediately (according to the trust) following the death of her grand mother 8k and than 7% to be paid quartley.
She has received 50k from trust one but ther is still a sizeable amount left. The bank will not distrubit any more because of the complaint made by her birth mother about the monatery gifts give to my wife befor her grand mothers death. Nothing legal has been filed just a complaint.
Trust two my wife has not received a dime.
I have read through both trusts several times and there is nothing in there that states that my wife could not receive money from her grandmother. It states that Lifetime Management Article 3 of the trust that the only way the bank could take over while she was alive was to have two physicians exam her if she need to be declared not able to do it her self. This never happened and grandma had her wits till the day she passed. It also states that grandma could get money from the trust any time she wanted in order to matain her way of life and also the way of life of her dependents such as my wife.
Ther is nothing in the trust that state that my wife has to pay back any money give to her except for the two promasary notes she signed with grand mother all the other money was a gift.
We are having a confrence call with the bank tomorrow and would like feed back from anyone out there. TKS a bunch. (Also See other postings on this mater)
More info for all. There are 2 trust left by my wifes grandmother.
First trust the she is to get one unit or 25% of the balance of the trust.
Second trust she is to receive immediately (according to the trust) following the death of her grand mother 8k and than 7% to be paid quartley.
She has received 50k from trust one but ther is still a sizeable amount left. The bank will not distrubit any more because of the complaint made by her birth mother about the monatery gifts give to my wife befor her grand mothers death. Nothing legal has been filed just a complaint.
Trust two my wife has not received a dime.
I have read through both trusts several times and there is nothing in there that states that my wife could not receive money from her grandmother. It states that Lifetime Management Article 3 of the trust that the only way the bank could take over while she was alive was to have two physicians exam her if she need to be declared not able to do it her self. This never happened and grandma had her wits till the day she passed. It also states that grandma could get money from the trust any time she wanted in order to matain her way of life and also the way of life of her dependents such as my wife.
Ther is nothing in the trust that state that my wife has to pay back any money give to her except for the two promasary notes she signed with grand mother all the other money was a gift.
We are having a confrence call with the bank tomorrow and would like feed back from anyone out there. TKS a bunch. (Also See other postings on this mater)