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beneficiary vs. trust

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H

harlowm

Guest
Maryland. I was left $2000 in a trust. I was also named beneficiary on a $2000 CD.
The money in the CD has been received. The estate lawyer says in his opinion, these
are one and the same and that I should not receive the money named in the trust.
Is this correct?
 


A

advisor10

Guest
1-22-2002

DEAR HARLOWM:

Yes, it is probably correct. You should ask to examine the trust document to see what the exact language of it is. If the $2,000 is described as a CD, then that is probably what you received.

If it is not described as a CD, then the attorney or whoever drafted the trust made a simple mistake in not being more specific.
 
H

harlowm

Guest
Maryland. The trust simply states "$2,000". Trust was drawn up in 1999.
The CD in which I was beneficiary was dated 2001. I do think the lawyer made a
mistake in that he does not cite specific law, only his opinion.
 
A

advisor10

Guest
1-23-2002

You say the CD was "dated" in 2001--was this the year that it was redeemed/cashed in or what day was it first purchased at the bank?

What does the lawyer say when you mention the seeming discrepancy in the dates? If what you say about the dates is correct, then it does appear somewhat that the estate attorney is wrongfully preventing you from collecting the $2,000 from the trust. If there is enough money in the trust to pay you the $2,000 and you know what bank it is being held at, you may want to discuss this matter with a trust officer at the bank, or file a complaint for arbitration with the local bar association, or ask for a second opinion about this matter from another probate or trust attorney. Don't let this attorney get away with possibly cheating you with his weak argument.

SINCERELY,

advisor
 
H

harlowm

Guest
Maryland. The trust was drawn up in 1999 showing only my name and $2,000.
No mention whatsoever of a CD.

The CD for $2,000 in which I am beneficiary states "Date Issued" of July 13, 2001.

On all written correspondence from this lawyer the term "in my opinion" shows up
over and over: "In my opinion to fund the gift, you were named as beneficiary on
one of the CDs..." and "My opinion continues to be that the bulk of the estate
is to go to the family with the exception of the gift to you of $2,000.."

Yes, there is plenty of money in the estate to cover the $2K.

Thank you.
 
A

advisor10

Guest
1-25-2002

It seems you have sufficient grounds to proceed forward with a claim for this $2,000.

You really do need to consult with a trust attorney or a probate attorney to find out how to go about this. For that attorney to only state "in his opinion" is not sufficient reason to deny payment.

Hopefully, you would not have to file a lawsuit to get that money. After your attorney reviews your situation, he may be able to negotiate that amount for you by speaking with the attorney or with the bank that is holding the trust.
 

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