A
abroad
Guest
state: new york
I live outside the us and am a citizen of that country.
my mother - who lived in ny recently passed away. she left a
will that amoung other stipulations included a portion of
her remaining capital to be placed in a trust for my 4 children
with me as the trustee. the lawyer handling the will tells me
the money must be placed in a ny banking institution. this
i find objectionable on practical and other ideological/political grounds. i do not think he pointed out the problems involved(for me -i.e. living abroad) sufficently to my mom when making the will (i have a sister in ny for whom a similar trust was proved for in the will)
*** can i get this stipulation of ny law changed in this case?
if not why not? Is the only way to do it to contest the will?
*** how does such a trust work? what kind of account is opened?
who decides how it is invested. What paper work/buracracy etc
is involved with withdrawals or other activities in the account?
thankyou for your time.
I live outside the us and am a citizen of that country.
my mother - who lived in ny recently passed away. she left a
will that amoung other stipulations included a portion of
her remaining capital to be placed in a trust for my 4 children
with me as the trustee. the lawyer handling the will tells me
the money must be placed in a ny banking institution. this
i find objectionable on practical and other ideological/political grounds. i do not think he pointed out the problems involved(for me -i.e. living abroad) sufficently to my mom when making the will (i have a sister in ny for whom a similar trust was proved for in the will)
*** can i get this stipulation of ny law changed in this case?
if not why not? Is the only way to do it to contest the will?
*** how does such a trust work? what kind of account is opened?
who decides how it is invested. What paper work/buracracy etc
is involved with withdrawals or other activities in the account?
thankyou for your time.