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Do we have to go to court to get a consevetor appointed?

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Shaughn

Junior Member
What is the name of your state? California

I live in Washington and my brother in British Columbia while our step-mother lives in California.

Our Dad died over 10 years ago leaving his estate in trust. The estate consists of stocks and one piece of property.

The trust was set up to allow my step-mother to live off of the income generated until the time of her death at which point it was to be distributed with 60% between Dad's children and 40% to my step-mother's children and grandchildren.

The problem now is that my step-mother has too soft a heart and has been supporting her kids and grandchildren beyond her income.

My brother and I feel that she may be spending the principal in excess of her portion of the trust.

My brother is willing to go to california to assess the current situation more accurately but will probably be stonewalled by my sweet step-mother to hide what she has been giving away.

We would like to have a consevator appointed to monitor the trust fund and would like to know if this can be done nicely or will we have to go to court and show cause?

Any advice along these lines would be appreciated.

Thank you.
 


L

lwpat

Senior Member
I assume that she is the trustee. If so you are probably correct in your assessment. As a beneficiary you have the right to an accounting. I suggest that you both demand one immediately. Actually this shoud be done yearly.
 
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BlondiePB

Senior Member
lwpat said:
I assume that she is the trustee. If so you are probably correct in your assessment. As a beneficiary you have the right to an accounting. I suggest that you both demand one immediately. Actually this shoud be done yearly.
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Without anyone here really reading the trust document, no one can really determine exactly how the trust is to be handled. It could even be an A/B trust with the surviving spouse a co-settlor & trustee. And, the trustee (who appears to be the surviving spouse) may even be able to use trust funds as she pleases.
 
B

BlondiePB

Senior Member
Shaughn said:
What is the name of your state? California

I live in Washington and my brother in British Columbia while our step-mother lives in California.

Our Dad died over 10 years ago leaving his estate in trust. The estate consists of stocks and one piece of property.

The trust was set up to allow my step-mother to live off of the income generated until the time of her death at which point it was to be distributed with 60% between Dad's children and 40% to my step-mother's children and grandchildren.

The problem now is that my step-mother has too soft a heart and has been supporting her kids and grandchildren beyond her income.

My brother and I feel that she may be spending the principal in excess of her portion of the trust.

My brother is willing to go to california to assess the current situation more accurately but will probably be stonewalled by my sweet step-mother to hide what she has been giving away.

We would like to have a consevator appointed to monitor the trust fund and would like to know if this can be done nicely or will we have to go to court and show cause?

Any advice along these lines would be appreciated.

Thank you.
Click to expand...
Conservators are appointed for incompetents not trust funds.
 
S

Shaughn

Junior Member
lwpat said:
I assume that she is the trustee. If so you are probably correct in your assessment. As a beneficiary you have the right to an accounting. I suggest that you both demand one immediately. Actually this shoud be done yearly.
Click to expand...
Actually, the trustee was my Dad's sister's husband... but as they are now aged with their own problems and they just don't want to deal with the mess, it has recently been passed over to some bank dept. One of the things that my brother will will be checking with..

So, I am guessing then that as an heir, we do have a legal right to ask for an accounting of what is in the trust and how it is being handled??

I love my step-mom dearly and she is a sweet woman... one of the reasons that she has been taken advantage of so much by my step-siblings... but she gets very defensive when questioned about where the money has gone...

We are not trying to cruicify her, only protect what our father intended for his children.

Thanks all for the help... it is appreciated.
 
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BlondiePB

Senior Member
Actually, the trustee was my Dad's sister's husband... but as they are now aged with their own problems and they just don't want to deal with the mess, it has recently been passed over to some bank dept. One of the things that my brother will will be checking with..
Click to expand...
Why would the bank's trustee not follow the terms of the trust?

So, I am guessing then that as an heir, we do have a legal right to ask for an accounting of what is in the trust and how it is being handled??
Click to expand...
If step mom is a co-settlor, you are not entitled to an accounting.

I love my step-mom dearly and she is a sweet woman... one of the reasons that she has been taken advantage of so much by my step-siblings... but she gets very defensive when questioned about where the money has gone...

We are not trying to cruicify her, only protect what our father intended for his children.
Click to expand...
Have you read the entire trust document?
 
S

Shaughn

Junior Member
Have you read the entire trust document?[/QUOTE]

actually, now that you mention it... I have only read the will that states the terms, and from your comments, now think that there may be an additional document that is the trust itself...

Thankfully, my older brother is a smart business man and well equipped with ferreting out the terms and the facts.

What seemed so clear cut and simple after my dad passed away now seems to be a mess that is anything but clear... and sure to upset everyone by the time it is settlled..

Thanks for your help..
Shaughn
 
B

BlondiePB

Senior Member
You're Very Welcome

Shaughn said:
Have you read the entire trust document?
Click to expand...
actually, now that you mention it... I have only read the will that states the terms, and from your comments, now think that there may be an additional document that is the trust itself...

Thankfully, my older brother is a smart business man and well equipped with ferreting out the terms and the facts.

What seemed so clear cut and simple after my dad passed away now seems to be a mess that is anything but clear... and sure to upset everyone by the time it is settlled..

Thanks for your help..
Shaughn[/QUOTE]
Yes, the trust is a completely separate document from the will which will detail everything.
 
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