Need Advice, Fast!

[Ksajb]

What is the name of your state? MI trust

Exactly who does the trust atty represent when the 'settlor's' are deceased?

A. The trust

B. The Trustee

C. The 2nd Trustee (I know this isn't it)

D. The Beneficiaries


Is it unethical for the trust's atty to refuse to answer any questions from the beneficiaries? Also, I can't find any info on Michigan law that states when we (beneficiaries) were suppose to receive a copy of the trust. We did get it but it was 11 months after death with a cover letter that stated, 'The purpose of this letter is to inform you, as required by Michigan law, that you are a Beneficiary of the above Living Trust...' Can we hold the lawyer responsible for anything? Thank you, I'm the 2nd trustee and need to take some action but need to know where I stand. The trust atty won't talk to me and has referred me back to my brother (trustee) who won't communicate with any of us.

 

[Dandy Don]

Trust attorney primarily represents the trust and the trustee. It may seem unethical for him not to respond to beneficiaries' questions, but it is not illegal for him to do so. If he wanted to answer your questions, he could do so without fear of repercussion and it would be the polite thing to do.

The fact that he is not providing answers could be an indication, without any other justifiable reason from your brother, that he might suspect your brother trustee of incompetence or possibly even negligence or theft from the trust. The fact that your brother won't give information is also very suspicious.

Does the trust mention anything about exactly, specifically what the beneficiaries will be getting? Did you check Michigan law to see if, normally, an accounting statement is also required to be sent, if you requested that along with a copy of the trust? He probably even knows he was supposed to provide an accounting statement, but continues to stall you all and you all don't do anything about it.

Why aren't you consulting with a local trust attorney to find out what your options are? You could be requesting the accounting information under the official letterhead of your trust attorney, which might have more weight in influencing a response from the trustee brother if he suspects you might take things further legally if he doesn't respond, and your trust attorney could also ask the court to require this trustee to post a trustee's bond (from which you could possibly recover financial damages if it is later confirmed that he did steal from the trust). Instead of trying to figure out the law for yourself, your situation cries out for the need for professional advice from a trust attorney.

This brother trustee might be guilty of breach of fiduciary duty and has certainly shown neglect by his lack of cooperation in providing timely information to beneficiaries. The longer you delay in getting professional help, the longer he is going to be getting away with concealment and possibly even theft, hoping he will never be found out.

DANDY DON IN OKLAHOMA ([email protected])

 

[Ksajb]

Thanks, Don. We are working with an atty now whose first suggestion was to send a certified letter requesting immediate disbursement and an accounting list of all assets. We've even given our brother a deadline to respond. This is the first step needed in order to dispute his actions. The next is to use a mediator as suggested by the trust. That mediator would be the trust atty who won't speak with us. The atty we have is hoping that all it will take is a letter from him to let our brother know how serious we are without having to take it any further. I was just hoping that in knowing my own rights in regard to the trust atty, I could at least call him and see if my brother has initiated any activity on the trust. I'd really hate to start legal action if my brother is finally in the process of taking care of things.

 

[lwpat]

"I'd really hate to start legal action if my brother is finally in the process of taking care of things."

The longer you wait the more time he has to take the money that is yours. If he was being upfront you would be getting the information. He is counting on being able to stall until the money is gone and that you will not do anything. It is your money, go and get it before it is all gone and stop worrying about his feelings. He certainly is not concerned about yours. I am speaking from personal experience.