spookyfishlizar
Junior Member
What is the name of your state? OH
My children and I are beneficiaries of a trust set up by a family member. I am receiving cash and my three children have trusts set up that they can get for college at eighteen or cash out at 27 if they decide not to use for college.
Last Feb we were told all federal and state taxes had been paid and that dispersements would happen in May. When May rolled around, we were told that they had to wait for "tax clearance letters" and this would take six months. We informed them that we were planning on buying a house and that we had hoped to do it during the summer so we did not have to make our kids change schools mid year and they agreed to pay out 75%.
After seven months had passed, I contacted them asking about payment and was told that they didn't know why anyone told us six months, it takes 18. They did state that the Federal clearance letter had been received and they are awaiting the letter from OH now.
It is now going on 12 months since taxes were paid and they are still holding my money. My wife does hair color and has had a few clients who are attorneys and accountants tell her something doesn't seem right and we should request copies of all tax forms they submitted and copies of the "clearance letters".
My questions are: Would it be helpful to have an attorney draft and send the letter requesting this information, and if so, what type attorney am I looking for?
Second question: I am fed up with dealing with these people and feel they are holding onto my family's money to use to loan out to others as this is a bank. I don't want my kids to go through a huge ordeal getting their college money down the road causing them to miss a semester or something. Is it possible for me to get their trusts moved to another trust company to handle them, keeping the same terms as set forth in the original.
My children and I are beneficiaries of a trust set up by a family member. I am receiving cash and my three children have trusts set up that they can get for college at eighteen or cash out at 27 if they decide not to use for college.
Last Feb we were told all federal and state taxes had been paid and that dispersements would happen in May. When May rolled around, we were told that they had to wait for "tax clearance letters" and this would take six months. We informed them that we were planning on buying a house and that we had hoped to do it during the summer so we did not have to make our kids change schools mid year and they agreed to pay out 75%.
After seven months had passed, I contacted them asking about payment and was told that they didn't know why anyone told us six months, it takes 18. They did state that the Federal clearance letter had been received and they are awaiting the letter from OH now.
It is now going on 12 months since taxes were paid and they are still holding my money. My wife does hair color and has had a few clients who are attorneys and accountants tell her something doesn't seem right and we should request copies of all tax forms they submitted and copies of the "clearance letters".
My questions are: Would it be helpful to have an attorney draft and send the letter requesting this information, and if so, what type attorney am I looking for?
Second question: I am fed up with dealing with these people and feel they are holding onto my family's money to use to loan out to others as this is a bank. I don't want my kids to go through a huge ordeal getting their college money down the road causing them to miss a semester or something. Is it possible for me to get their trusts moved to another trust company to handle them, keeping the same terms as set forth in the original.
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