What's in the trust???

[truthandhonor]

What is the name of your state (only U.S. law)? CA

Aren't beneficiares allowed to know what exactly is in a trust? How do I find out what I actually inherited? The trust says nothing about what's in the trust!

My mother died early this year, age 94. I received a copy of the trust. The trust states that each beneficiary named gets "one share." Only four of eight children were named as beneficiaries (the others disinherited by mother) that means the trust is to be divided into four shares or portions. But portion of what??

There is no list of assets, no mention of the numerous properties my mother owned, numerous bank accounts I know she had in the past, countless investments. Virtually nothing is mentioned about what exactly is the "shares" of the trust.

I was initially told by one co-trustee who claimed he's the only one allowed to know anything about the trust, that the trust was 55 pages long. I only recieved 23 pages. How can I find out what's in the trust and what exactly I am supposed to inherit? I find out, trustees do not have to give an accounting until after one solid year. It seems this gives the trustees, niether of whom can be trusted, plenty of time to move assets around to their liking and to their own benfite and not be fair nor transparent with me, a rightfull beneficiary.

Upon my death, whatsever's left goes to the trustee's kids!! One trustee has even verbalized his intent to keep the investments for his kids who are my age! They have no right to it because I am still alive and the same age. Chances are, they will see nothing of my share unless the trustees can pull a fast one. I frankly need to have my own future secure and am entitield to my fair share. They should not be permitted to conceal assets or what they are doing behind my back, and my share should not go to the trustee's kids.

I have the trust, but what can I do to find out what's IN the trust? What can I do to obtain a list of everything mother had which should be what she left? It seems when you die and leave a trust, everything you have should be in the trust since you cannot take it with you, so what's in the trust?

 

[curb1]

This is interesting information. You are correct to be very vigilant of the situation.

http://www.nccusl.org/Update/uniformact_summaries/uniformacts-s-utc2000.asp

 

[curb1]

Another good website:

http://www.global-wills.com/articles/Living_trusts/living_revocable_trust.htm

 

[TrustUser]

assets are seldom listed in the trust document itself, unless the trustor wants to give a specific asset to a specific individual.

it is common to have the assets listed on a separate sheet, but this is not necessary.

if an asset is titled to the trust, then the trust owns it. if it is not titled to the trust, the trust does not own it.

the successor trustee typically gets everything titled in his name, and then distributes those items, or leaves the items in the trust, depending on the trust document instructions.

there is no reason for the trustee not to reveal this info to you, if he intends to honor the wishes of the trust.

trustees can be sent to jail for fraud, but you have to be willing to do this to your sibling. if you are, let your sibling know this. it does indeed seem as though you have a reason for concern.

the trust i prepare has page numbering on every page (page 1 of 25, page 2 of 25, etc.).

does your trust have this sort of numbering ? it would tell you if you have the complete document or not. is your last page notarized ? if not, then you are missing the last of it.

does the trust have its own sectioning ? usually, they are divided into sections, divisions, or something of the sort. see if anything is left off.

in my trust document, i give the beneficiary the right to get rid of the trustee immediately and for any reason. anything like this in your trust ?

you have quite a few avenues, depending on what is in the document. but do something quickly.

 

[Dandy Don]

From your recent postings about this, you have an uncooperative trustee who is withholding documents. You have been advised to ask for an audit and your attorney can advise you how to do it.

DANDY DON IN OKLAHOMA ([email protected])

 

[truthandhonor]

"the successor trustee typically gets everything titled in his name, and then distributes those items, or leaves the items in the trust, depending on the trust document instructions."

"trustees can be sent to jail for fraud,"

I didn't know this. I thought the probate court cares nothing of criminalities of a matter, and all they can do is remove the trustees. The trust is a sham Special Needs Trust based on erronioous information given by one trustee brother to defraud me, I feel. He told my mother I am like my sister who is on SSI so my mom would conveniently grouped me with her and give them a reason for hording a vast amount of holdings I will never see under the current terms of the trust, to keep it for themselves and their kids who are MY AGE. They even verballized their intent to do so and have been viscous towards me for years. I am not, nor never have been, and never will qualify for SSI.They thought they could get away with it. I'm fighting it by filing in court for "Declaratory Relief" that I will not lose my inheritance under the "no contest clause." But, and I don't know if this is true, I've heard that a SNT can be placed on anyone regardless even if they do not have "special needs" at all. It seems illegal and wrong, but I have looked for info everywhere and cannot find anything to show that SNT is for anything other than so children do not lose their SSI/MediCal which are welfare benefits. If they are going to say Oh well, she's incompetent to handle my own money, is not the burden of proof on them? I have perfect credit, live within my means, supported myself my whole life, and work my butt of with no husband or live-in doing for me.

About an audit, I am so confused about the differences of audit, accounting, "Valuation of the Assets" and notice thereof...and while I think I understand what each one means, I can find nothing about the duties of the trustee to divuldge what they are doing and where they are putting the assets until after one year.

Attorney? I fired the first "litigator" who TURNED OUT TO BE A FRIEND OF THE SIBLING TRUSTEE who started what I consider a scam in the first place! Said attorney admitted he was in the same Sport Fishing club and "best friends" with the crook who made a sweetheart deal with sibling.He found me,buttered up to me seeing I need an attorney to help me. I didnt find him. Then, it was horrifying to find that the other cotrustee went along with the plans to "hold" on to my rightful portion even after I proved I am not on SSI, claming my mother" believed I need protection" and that is the new reason for the SNT which seriously limits distribution to the point of I will get nothing my mother thought she was giving me. The trust is a set-up for the trustees to defraud the primary beneficiary, me. But proving my allegations that there was undue influence or that my mother didn't know what she was doing or about this SSI scam is going to be tough perhaps. They are going to say: Oh, well..she wanted it this way and that's what we are going to do whether or not it is falsified information she acted on. She was 80 at the time and she died totally demented at 94.

I appreciate so much I found this forum because there are people out there who are upstanding citizens who actually care enough to be helpful. I am meeting with the new attorney shortly. Thank you all!