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is this right? line missing on form 712

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daisyamy

Junior Member
What is the name of your state? FL

I am the one having trouble with a trustee and an illegal 1035 exchange of beneficairy (so it appears). When I aksd the trustee for some proof she sent me a copy of irs form 712 that was submitted to the irs with form 706. A line is totally missing on the 712 and not even on the form as it should be! One attorney I spoke with says that is nothing. I disagree--any one have any thoughts about this? Why would a critical line be missing if there is nothing to hide?

Thanks
 


Dandy Don

Senior Member
So specifically which line on the form is missing? Does it look like it has been covered over with liquid paper/white-out or does it appear that nothing was ever written in there?
 

daisyamy

Junior Member
The trustee sent 2 form 712s, one for each company where there was life insurance. Both are the rev (5-2000) irs form 712 and BOTH ARE DIFFERENT in fonts and appearance. Line 35 is missing on one and the boxes in lines 33 and 34 are altered. I went on the net and downloaded the same form --rev (5-2000) and it appears that the line 35 was whited out on one she sent me with the previous lines (32 and 33) altered.

The other form 712 has the middle section totally altered in looks. In fact it has the mid section of the 712 form of REv (4-1994) which I also can get off the net. It apppears she copied and pasted the mid section on that one so as to alter the info on that one too. I believe she went to that trouble to deceive and make me believe that line 35 on the other form wasn't supposed to be there. In fact she didn't send page 2 of the one that has line 35 missing because I would see that line 35 is missing as page 2 starts with line 36.\The sad thing is I know the character of the trustee and this IS something she would do

She had to keep the signatures of the life insurance reps on the page to look official but I believe she altered the facts and form to deceive me. Why would the insurance company do it, alter the form? So why would she go to all that trouble if she wasn't hidng anything?

My question: Couldn't I have an attorney ask for a complete accounting of the trust (the trust papers say I should get one) from the INCEPTION of the trust and the life inurance policy which was to fund it? That year was 1993. The trustee has only given me papers from 1996 onward. The original policy was for $2 mil and had exchanges done on it. Now the trust only has $1 mil and there were no lapses.

Thank you so much for your help/
 

seniorjudge

Senior Member
Q: Couldn't I have an attorney ask for a complete accounting of the trust (the trust papers say I should get one) from the INCEPTION of the trust and the life inurance policy which was to fund it?

A: Yes.
 

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