TRUSTWORTHY
Junior Member
What is the name of your state? MA
Grandfather passed away 6 months ago. He had set up a trust in 1992 with his 3 grandchildren as the sole beneficiaries. His lawyer now states that he was the only beneficiary of the trust. According to him the funds administrator will release the funds to a successor trustee nominated by the originally named three beneficiaries in order to avoid probate. He suggest we name him as the new trustee and he will give us our share minus his fees . If the trust was ammended there are no forms stateing this. Also a nephew had grandfather type a new will 2 years ago naming him to receive all remaing assets. Grandfather's lawyer is stating nephew will get half of the trust. We contacted the lawyer who originally set up trust and he said it sounds like a good deal. I think something shady is going on. Not sure how to proceed.
Grandfather passed away 6 months ago. He had set up a trust in 1992 with his 3 grandchildren as the sole beneficiaries. His lawyer now states that he was the only beneficiary of the trust. According to him the funds administrator will release the funds to a successor trustee nominated by the originally named three beneficiaries in order to avoid probate. He suggest we name him as the new trustee and he will give us our share minus his fees . If the trust was ammended there are no forms stateing this. Also a nephew had grandfather type a new will 2 years ago naming him to receive all remaing assets. Grandfather's lawyer is stating nephew will get half of the trust. We contacted the lawyer who originally set up trust and he said it sounds like a good deal. I think something shady is going on. Not sure how to proceed.