Mom's Will, Dad is Trustee, He Remarried.

What is the name of your state? Washington

I just had a quick question, it may be no big deal, well, actually two questions.

When my mom died she left her estate in trust to my siblings and me with my dad as Trustee. Part of this was a family home and the will stipulated that we would inherit the appreciated value of the home and interest from investments from it, etc... should it exist after my father's death. According to the will my dad, as trustee, is supposed to make a yearly accounting which he has never done (it has been 15 years). First question- Is the accounting just a formality or is he supposed to do this?
He remarried shortly after my mom died and sold the house (I remember him saying that he had a hard time doing this because of the trust). Anyway, he sold the house and bought a new one of greater value (it is worth over $1 million now). Initially the deed of his new house was in the name of the trust (The Soandso Family Trust)(ficticious name), but I looked at the deed in the county records and saw that he had done a quit claim removing the Soandso Family Trust from the deed and replacing it with his and her name Dr Joe Soandso and Mrs. Jane Soandso. He never notified us of this. Second question: Is quitclaiming the Trust off the deed just to clear the deed and it doesn't really mean anything? or is it an issue? She has contributed nothing financially, her last husband was bankrupt and she has never worked. Does she become part owner even though it was purchased with funds from the trust?
I realize it is my dad's during his lifetime, but it was my mom's will to pass to us after he is gone, not his thrice divorced wife or her 6 children, so I am just curious.
Actually that was three questions. Oh well, hope someone can help!

What does your Dad say about your questions? Did the trust (do you have a copy?) give the trustee the authority to sell the assets?

Whether his actions in selling the home were appropriate or not, depends on the language of the trust and the will and exactly how the home is titled. Take a copy of the will and the trust to a trust attorney (or to a probate attorney who has experience with wills AND trusts) to have them review the documents to see what your options are. The trust and the will are 2 separate documents that are administered separately and independently of each other, although there may or may not be some overlap.

It sounds like she wanted her children to benefit from the proceeds of selling the home, in which case his actions may be illegal and improper.

Your attorney will also need to look at Washington state trust law to see what the requirements of providing an accounting are--in most states, the beneficiaries have to request a copy of the accounting annually by sending the trustee a certified letter, but other states require the trustee to automatically provide that information for the beneficiaries.

DANDY DON IN OKLAHOMA ([email protected])

Dad says different things to different people. He told me everything would pass on to us, but he told my sister that he is just going to give us our ski cabin, which is still in the name of the trust.
I do not see restrictions on what he can do with the property on the will. The only specific mention of selling has to do with dispersing to the beneficiaries. There is a "good faith action binding" claus, which I suppose means he can do what he wants "in good faith", which is what I had assumed he was allowed to do.

Also, it says he is supposed to make an "annual accounting" to each adult beneficiary and he has never done this. Is the annual acounting just a meaningless formality? I mean, there is a life insurance policy mentioned in the will and I don't even know how much that was for or what happened to it (I think that might be how he moved into the better house).
It seems too undignified to have to ask him (so I ask questions anonymously on the internet, )
Thanks for your response.

thanks for response

What's the best way to find an atty? I don't have any experience using attorneys.

Look in your phone directory yellow pages under ATTORNEYS and try to find one that specializes in handling trusts AND wills.

The insurance policy could have named a beneficiary outside of the will and under that circumstance is technically NOT a part of the estate, but you or your attorney should be asking who the beneficiary was. Whether he has to provide an annual accounting depends on what the state law says. How he handles the house and the proceeds from selling it depends on whether it is listed in just the trust or just the will or maybe in both, which is why you need an attorney to review the documents to get a specific answer.

You don't need to be intimidated about asking your father questions about this, but under the circumstances since he seems to be hiding something and is not willing to be forthcoming about providing answers, your attorney can ask the questions for you.

DANDY DON IN OKLAHOMA ([email protected])

Thank you for taking the time to answer my questions.

Input

Having just made out a trust, this input may help you. Many trusts that involve a husband and wife are as follows: At the death of one everything is left to the survivor spouse (still in trust). Now typically each spouse makes provision for the case in which both die--the assets go to the children. Point being--If only your mother died, everything now belongs to your dad, who is now the sole trustee. He can do whatever he wants with the trust, including changing it!! Now if the trust specifically stated that at mom's death my half does not go to my spouse, it goes directly to my children--then that's a whole different story, and you do have rights.

I just saw your post now, thanks.

He definitely did not have the right to change the will, so this is different. I know that the property definitely is to go to us in the event of his death, but my only question is did he try to pull a fast one by changing the house deed from "The X Family Trust" to "Dr and Mrs X", (Mrs X is new wife). That's all. I still haven't called a lawyer.

mirandapriestly said:

He definitely did not have the right to change the will, so this is different. I know that the property definitely is to go to us in the event of his death, but my only question is did he try to pull a fast one by changing the house deed from "The X Family Trust" to "Dr and Mrs X", (Mrs X is new wife). That's all. I still haven't called a lawyer.

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According to your post, the new house was his and his alone.

So really your question is moot.

mirandapriestly said:

He definitely did not have the right to change the will, so this is different. I know that the property definitely is to go to us in the event of his death, but my only question is did he try to pull a fast one by changing the house deed from "The X Family Trust" to "Dr and Mrs X", (Mrs X is new wife). That's all. I still haven't called a lawyer.

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I will agree that he cannot change someone's will .. however, most trusts are modifiable by any grantor.