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heir vs beneficiary

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barrettsdi

Junior Member
What is the name of your state (only U.S. law)? Maine
My sister and I received papers from a lawyer saying we are heirs to my great Aunts estate because our father is deceased and we are receiving his share of the estate. She has a trust at the bank and a bank trustee she told us we aren't beneficiarys and the lawyer told us we were heirs. What is the difference are we going to get anything ? what does a heir mean its a very large trust.:confused:What is the name of your state (only U.S. law)?
 


anteater

Senior Member
Without getting into a bunch of definitions, is the lawyer that sent you the papers representing her probate estate?

The only assets that would be distributed under the terms of the trust would be assets that were placed into the trust. If not all of her assets were in a trust, those other assets would be distributed through the probate process, either by the provisions of her will or by Maine's intestate succession statutes. And either way, since your father predeceased your great aunt, you and sister apparently would receive his share.

Therefore, it is quite conceivable that you are not beneficiaries under the terms of the trust. But you could stand to inherit from her probate estate.
 

barrettsdi

Junior Member
Without getting into a bunch of definitions, is the lawyer that sent you the papers representing her probate estate?

The only assets that would be distributed under the terms of the trust would be assets that were placed into the trust. If not all of her assets were in a trust, those other assets would be distributed through the probate process, either by the provisions of her will or by Maine's intestate succession statutes. And either way, since your father predeceased your great aunt, you and sister apparently would receive his share.

Therefore, it is quite conceivable that you are not beneficiaries under the terms of the trust. But you could stand to inherit from her probate estate.
yes the lawyer is representing her estate and its not going through probate
 

barrettsdi

Junior Member
Its a inter-vivous trust it was two separate trusts so to avoid taxes and probate. the lawyer that sent us paper stating that we were heirs because our father was deceased and we get his share. The lawyer was the personal repersentive of the estate he said he sent all the paper work to the trustee to send out the money. The trustee won't tell us anything cause she said we were not beneficiarys. I need to know what that means we are heirs but not beneficarys i'm confused is there a difference between heirs and beneficiary if so what is it the trust is worth 3 million are we going to get anything? the trust is all monies and very few assets.
 

anteater

Senior Member
The lawyer was the personal repersentive of the estate .....
Your use of the term "personal representative" indicates that this lawyer had something to do with the great aunt's will and/or probate estate. If the great aunt had a will, you may or may not be entitled to inherit your father's share, depending upon the wording of the will. If the great aunt did not have a will, then you would be entitled to inherit a portion of the probate estate under Maine's intestate succession statutes. Everything that I said here applies only if the great aunt had assets that were not titled in the name of the trust.

A trust is a separate entity. The trust document specifies how the assets in the trust are to be distributed. Unless the lawyer that sent you the papers wrote the trust or, for some reason, has a copy of the latest trust document, the lawyer simply can't tell you if you are entitled to receive a distribution from the trust.

What the trustee is required to provide to whom would be governed by Maine law. If Maine's law is like other states, the trustee is probably required to provide trust information only to the trust beneficiaries. If the trustee says that you are not a beneficiary and you want to verify that, your best bet is to retain your own attorney.

She has a trust at the bank and a bank trustee....
There are lots of reasons to dislike bank trust departments. Their fees are generally expensive. They tend to act with all the haste of a slug. And lots of other negatives.

But they generally are not in the business of denying distributions to the proper beneficiaries under the terms of the trust.
 
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barrettsdi

Junior Member
is it possible that the trust still has my father down as a beneficiary even though he is deceased and the will states that we are heirs to his share?
 

seniorjudge

Senior Member
Q: is it possible that the trust still has my father down as a beneficiary even though he is deceased and the will states that we are heirs to his share?


A: Of course anything is possible. And a will and a trust should have basically the same provisions. But as ant says, you need to talk to the lawyer.
 

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