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Successor Trustee Rights

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Kendall1952

Junior Member
What is the name of your state (only U.S. law)?Oregon
My mother set up a revocable living trust in 1994 with my twin brother as the trustee. He was supposed to give me all cash assets and 1/2 of the personal property when she died. All real estate was given to him in the trust. She died in December 1997. He never provided me with an accounting or any money. He died November 2007. His daughter informed me that one piece of property was sold but never taken out of the trust. The payments for the property are still being made to the trust and payments to a loan my brother took out are also being made from the trust. I am the successor trustee. The original lawyer for the trust is managing the trust account, but says he has no detailed records about monies from when my mother died. He also says that he believes my brother's daughter is entitled to the income from the trust as my brother's only heir. Is there some way for me to recover what was due me?
 


curb1

Senior Member
As successor Trustee you should have the complete set of books for the Trust. The information belongs to you. Be aggressive and take over. Firstly, you will need to find out what has happened. Then your responsibility will be to follow the directives of the Trust.
 

FlyingRon

Senior Member
Simple, get a different lawyer. As trustee that is your right and the trust probably even provides you expense money to pay for one.

Assets not titled to the trust are not subject to it. "Personal" property is typically not titled to the trust. A will usually handles this (or the rules of intestate succession).

As for the stuff that is owned by the trust, you need to read (or have a lawyer) read the terms of the trust. Unless the trust specifically mentions distribution to heirs, the lawyer is crocked.
 

Dandy Don

Senior Member
Have your attorney inquire with the IRS and with Oregon state tax authorities (if there is such an agency) to see if tax return information for the trust would be available from their files for the years 1997-2007. No doubt some of the years would be available which would provide some insight.

DANDY DON IN OKLAHOMA ([email protected])
 

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