G
galleen
Guest
What is the name of your state? CA
Mother died in January 2004. Only beneficiaries are my sister and me. I just learned from my aunt that my sister may have used her Power of Attorney (sibling is also successor trustee) to turn Mom's bank accounts into a Pay on Death account (?) and named herself as beneficiary - one week after Mom died! Mom had a Living Trust and pour over will - bank accounts were named as the Trust, Mom as Trustor. Pour over will states her house is to go to my sister and me - and that "remainder of the estate" is to be divided equally between sister and myself. Now sister says since it's a pay on death account, to her -it's all hers (about $100,000). I know mom would not have wanted it to be this way and I'm very upset. She has stopped speaking to me - just sends me emails saying I have to trust her. We have never been close.
Is this correct? Is there some kind of loophole that allows her to make changes to an irrovockable trust after the Trustor dies? Doesn't the bank have some kind of rules about this? I'm very confused.....
Thanks for your assistance....
Mother died in January 2004. Only beneficiaries are my sister and me. I just learned from my aunt that my sister may have used her Power of Attorney (sibling is also successor trustee) to turn Mom's bank accounts into a Pay on Death account (?) and named herself as beneficiary - one week after Mom died! Mom had a Living Trust and pour over will - bank accounts were named as the Trust, Mom as Trustor. Pour over will states her house is to go to my sister and me - and that "remainder of the estate" is to be divided equally between sister and myself. Now sister says since it's a pay on death account, to her -it's all hers (about $100,000). I know mom would not have wanted it to be this way and I'm very upset. She has stopped speaking to me - just sends me emails saying I have to trust her. We have never been close.
Is this correct? Is there some kind of loophole that allows her to make changes to an irrovockable trust after the Trustor dies? Doesn't the bank have some kind of rules about this? I'm very confused.....
Thanks for your assistance....