M
myron
Guest
Texas. Background: The executor of Father's irrevocable living trust is my eldest sister. The trust consisted of one piece of rental property (which sold for $100K back in Jan.), a small amount of cash ($30K) and my parents home (est. $200K) plus some negatives -- credit card debit (think it was less than $10K.) One small (less than $10K) disbursment was made to each of us after the rental property sold. Trust currently consists of $75K "left over from Rental property sale" & parents' home which is aging (+35yrs. old) and needs repair.
Issue: Executor refuses to disburse any funds until she wants to. Meanwhile, she purchases gifts (e.g., cash graduation gifts to nephew, vacation rental reservations, and other items I'm certain, etc...) on our behalf without prior approval. Money is being spent without my agreement on my behalf and I want it to stop. If she won't distribute the funds to us then, at least, they should be earning interest!
Bottom line: I want to see this trust dissolved. Two of the four siblings want to sell my parents house -- two don't. Two who want to keep the house can't afford to buy-out the other two -- and, they won't even discuss selling.
I would like money to pay for tuition (I am planning to return to university in the Fall) & I've prequalified for a new home however, I could afford a much better piece of real estate if I had a larger downpayment.
What can I do to protect my inheritance? What can I do to formally request that my siblings buy my 25% interest in my parents' home?
This is such a mess. Please help me.
Thank you.
Issue: Executor refuses to disburse any funds until she wants to. Meanwhile, she purchases gifts (e.g., cash graduation gifts to nephew, vacation rental reservations, and other items I'm certain, etc...) on our behalf without prior approval. Money is being spent without my agreement on my behalf and I want it to stop. If she won't distribute the funds to us then, at least, they should be earning interest!
Bottom line: I want to see this trust dissolved. Two of the four siblings want to sell my parents house -- two don't. Two who want to keep the house can't afford to buy-out the other two -- and, they won't even discuss selling.
I would like money to pay for tuition (I am planning to return to university in the Fall) & I've prequalified for a new home however, I could afford a much better piece of real estate if I had a larger downpayment.
What can I do to protect my inheritance? What can I do to formally request that my siblings buy my 25% interest in my parents' home?
This is such a mess. Please help me.
Thank you.