What is the name of your state (only U.S. law)? MA
My family is involved with a trust in which we are the beneficiaries along with two other parties (all are imm. family members). The family member passed away in 2004 and had real estate, cash and cds in the bank. Some of the property has been sold and some has not, however there is a large amount of cash that is sitting in the bank and we are wondering if there is any law that stipulates the distribution of the cash in the bank in MA? I was told that the trust had up to one year after the date of death to distribute any cash in the bank to the beneficiaries. If this was true, then a distribution should have taken place in 2005, but nothing has happened.
This is a trust in which there was a will and one of the other two parties I mentioned above is the executor of the will.
Just looking to get some solid direction on a next step as this has really caused tension in our extended family and I am trying to relieve some of that tension.
Thank you for all the help.