corporate trustee caused hardship for beneficuary

[TrustUser]

my post is possibly helpful in that it hopefully stops accusations, and such - in the future. at least that is my goal - to make this site a better place for people to visit, to get information.

there is nothing wrong with telling someone bad news, if you want to look at it in that way. but please re-read the entire thread. it is obvious that some posts should not have been posted. i didnt mention any names, as i was not attempting to single any particular member out. that is something that can be done by the owner, if so desired

but i disagree with you that it is his wife's concern. most good marriages have both partners dealing with whatever they need to, in whatever way is helpful. some people are better in certain aspects. what you might have meant is that it is his wife's responsibility, from a legal standpoint ?

but this is not a new thing. there have been these accusative like posts ever since i joined. and i have been a member for quite a while.

if it was my web site, i would have put a stop to it a long time ago. as an insignificant member, i can only voice my concern every once in awhile, hoping for a change.

the bottom line should be either try to offer some legitimate help in a non-condescending way. or simply stay silent on that particular thread. i am silent on the vast majority of threads

thank you for listening

 

[not2cleverRed]

my post is possibly helpful in that it hopefully stops accusations, and such - in the future. at least that is my goal - to make this site a better place for people to visit, to get information.

I disagree.

If that is your goal, then lead by example: post a well thought out inciteful response to OP's "legal" question.

I have chosen not to do so because, although my quordle stats would indicate that I know plenty of short words, getting OP to the level of understanding needed to assist OP's wife would be too difficult.

OP's wife is not the first to experience a loss. OP's understanding of the role of the corporate trustee is somewhere between odd and misguided. I do not expect the people handling my money to be my emotional rock. When my family's money guy takes me out to lunch, it's really me paying - by way of f e e s. But hey, if the guy does his job well, I won't begrudge him those fees.

 

[TrustUser]

i am most certainly leading by example by doing EXACTLY WHAT I HAVE DONE.

i tend to help out on trust questions, or other things in which i have actual experience. and stay silent the rest of the time - since there are others here with better knowledge about those topics than i have.

so i will repeat, in case there is confusion. if you have the knowledge about a topic, and also feel like delivering it in a nice way, by all means do so. otherwise, choose not to participate. it is really very simple, and the way that most people interact when in public.

 

[jstcrazd]

And your post is helpful to jstcrazd in what way?

Although I understand that jstcrazd is looking for information, the bottom line is that the trust that was established and how it is being administered is his wife’s concern. He cannot change the terms and conditions of the trust, as much as he may want to. If his wife has issues with the trust’s administration, she can seek out an attorney who is licensed to practice in her jurisdiction.

ok I must have not asked my question correctly . my wife's trust states that the trustee has the power to pay for my wife's monthly maint and support which the trustees have agreed to do. the problem is my wife and the trustees agreed upon the 1st of every month . so my wife adjusted all of her monthly bills around the mutual agreed date .which they have not had the ability to achieve not just once or twice but 12 months of late direct deposits .causing those bills to be late 12 times am I wrong to think that it is not ok for them to agree to do something so simple and not?

 

[stealth2]

ok I must have not asked my question correctly . my wife's trust states that the trustee has the power to pay for my wife's monthly maint and support which the trustees have agreed to do. the problem is my wife and the trustees agreed upon the 1st of every month . so my wife adjusted all of her monthly bills around the mutual agreed date .which they have not had the ability to achieve not just once or twice but 12 months of late direct deposits .causing those bills to be late 12 times am I wrong to think that it is not ok for them to agree to do something so simple and not?

I think it was foolish for your wife to not provide an adequate grace period between the anticipated deposit and due dates of bills. That really is on her. There are any number of reasons for a direct deposit to be delayed (consider Federal holidays, for example) Sometimes processing times between banks are longer than expected. It happens.

 

[jstcrazd]

my post is possibly helpful in that it hopefully stops accusations, and such - in the future. at least that is my goal - to make this site a better place for people to visit, to get information.

there is nothing wrong with telling someone bad news, if you want to look at it in that way. but please re-read the entire thread. it is obvious that some posts should not have been posted. i didnt mention any names, as i was not attempting to single any particular member out. that is something that can be done by the owner, if so desired

but i disagree with you that it is his wife's concern. most good marriages have both partners dealing with whatever they need to, in whatever way is helpful. some people are better in certain aspects. what you might have meant is that it is his wife's responsibility, from a legal standpoint ?

but this is not a new thing. there have been these accusative like posts ever since i joined. and i have been a member for quite a while.

if it was my web site, i would have put a stop to it a long time ago. as an insignificant member, i can only voice my concern every once in awhile, hoping for a change.

the bottom line should be either try to offer some legitimate help in a non-condescending way. or simply stay silent on that particular thread. i am silent on the vast majority of threads

thank you for listening

thank u I am not a lawyer just a construction worker who stands up and says something when I think someone is getting picked on. but I want to make sure what I think is wrong actually is

 

[jstcrazd]

I think it was foolish for your wife to not provide an adequate grace period between the anticipated deposit and due dates of bills. That really is on her. There are any number of reasons for a direct deposit to be delayed (consider Federal holidays, for example) Sometimes processing times between banks are longer than expected. It happens.

like I said we did give them a 3 day grace period and her bills between 5 to 7 however because she is starting a business that includes live animals which the trustees agreed to also help her achieve we aren't talking about a small trust account we are talking about 7 figures so the trustees are very well paid to manage . I would expect them to at least be able to make sure a deposit is made in a timely manner

 

[jstcrazd]

I disagree.

If that is your goal, then lead by example: post a well thought out inciteful response to OP's "legal" question.

I have chosen not to do so because, although my quordle stats would indicate that I know plenty of short words, getting OP to the level of understanding needed to assist OP's wife would be too difficult.

OP's wife is not the first to experience a loss. OP's understanding of the role of the corporate trustee is somewhere between odd and misguided. I do not expect the people handling my money to be my emotional rock. When my family's money guy takes me out to lunch, it's really me paying - by way of f e e s. But hey, if the guy does his job well, I won't begrudge him those fees.

wow I'm blown away with the level of misunderstanding here . oh and believe me I have a pretty good understanding of the duties of a trustee as I have read the ARS codes and from my understanding is that if a trust gives the trustee power to provide monthly maint and support then the trustee is to make such payments in a reasonable and timely manner .as for the expectance of them being my wife's emotional support I never expected or said that! what I said was while my wife is dealing with the loss of her mother I would hope that a billion dollar bank who is in charge of handling her 7 figure account could be relied on . hints "her rock " a person or persons she could count on to make sure the money was made available so it could be deposited into her account I mean it shouldnt be that difficult to check and make sure it was . because they are paid well into 6 figures annually to do so

 

[not2cleverRed]

like I said we did give them a 3 day grace period and her bills between 5 to 7 however because she is starting a business that includes live animals which the trustees agreed to also help her achieve we aren't talking about a small trust account we are talking about 7 figures so the trustees are very well paid to manage . I would expect them to at least be able to make sure a deposit is made in a timely manner

The word stealth used was "adequate". Clearly the amount of time allotted for a grace period was not adequate.

what I said was while my wife is dealing with the loss of her mother I would hope that a billion dollar bank who is in charge of handling her 7 figure account could be relied on . hints "her rock " a person or persons she could count on to make sure the money was made available so it could be deposited into her account I mean it shouldnt be that difficult to check and make sure it was . because they are paid well into 6 figures annually to do so

You must be a very young couple.

So your mother-in-law died. Guess what? Many of the responders have experienced a loss. Some of them have experience dealing with trusts. Based on what you have described, you have no basis for a legal action.

If you wife is paying 6 figures in fees for her 7 figure trust, she is being ripped off.

Adulting sucks. Even if you get a windfall, you have to do some adulting to manage it. Even if you pay someone to actively manage your $, ultimately YOU are the only responsible for your finances. Read the code less and look at the statements more.

And please, think long and hard about the new business. It's an expensive hobby.

 

[jstcrazd]

The word stealth used was "adequate". Clearly the amount of time allotted for a grace period was not adequate.



You must be a very young couple.

So your mother-in-law died. Guess what? Many of the responders have experienced a loss. Some of them have experience dealing with trusts. Based on what you have described, you have no basis for a legal action.

If you wife is paying 6 figures in fees for her 7 figure trust, she is being ripped off.

Adulting sucks. Even if you get a windfall, you have to do some adulting to manage it. Even if you pay someone to actively manage your $, ultimately YOU are the only responsible for your finances. Read the code less and look at the statements more.

And please, think long and hard about the new business. It's an expensive hobby.

ok so if I was your boss "income provider" and I told you that your money will be automatically deposited into your account on the 1st of every month.Being an adult you would base all of your bills around that date correct? say within that week ? but u receive nothing on the 1st or before the 3rd most of your checks are over a week late some as late as the 21st . once no check at all until the 15th of the following month and only 1/4th of what u were supposed to receive .the other 3/4 on the 25th after making several calls . How would you feel ? nevermind don't bother answering that Im sure it will be just as useless as the rest of the bs you've felt obligated to type . about situations and people you know nothing about .

 

[stealth2]

nevermind don't bother answering that Im sure it will be just as useless as the rest of the bs you've felt obligated to type . about situations and people you know nothing about .

I think you just ensured no further assistance - hire a lawyer.

 

[Zigner]

... so my wife adjusted all of her monthly bills around the mutual agreed date .which they have not had the ability to achieve not just once or twice but 12 months of late direct deposits ...

Seems to me that once is a clerical error and twice is unfortunate. Anything more and one should plan around the money NOT being there on time.

 

[not2cleverRed]

ok so if I was your boss "income provider" and I told you that your money will be automatically deposited into your account on the 1st of every month.Being an adult you would base all of your bills around that date correct? say within that week ? but u receive nothing on the 1st or before the 3rd most of your checks are over a week late some as late as the 21st . once no check at all until the 15th of the following month and only 1/4th of what u were supposed to receive .the other 3/4 on the 25th after making several calls . How would you feel ? nevermind don't bother answering that Im sure it will be just as useless as the rest of the bs you've felt obligated to type . about situations and people you know nothing about .

You are on a legal forum.

The law is not about "feelings".

Given that your windfall is new, it would be well advised to learn how to manage your money, and keep a few months worth of expense money liquid. Unless you are living month to month due to poverty, you should pad your accounts with some emergency money. If, with a 7 figure trust account, your wife's income does not allow that, then you are living beyond your means.

There are many reasons why a transaction might be delayed.

In fact, you may be blaming the wrong party. Everyone assumes that it is the party initiating the transfer that has the problem, but it could be the institution receiving the funds that is the issue. It takes 1-2 business days for many transactions to go through as an ACH payment. Some banks will have the transaction show up as "processing" or "in process", while others don't. Sometimes your personal bank makes discretionary decisions on these things, regardless of your past history with them as an honest customer who has never bounced a check.

In any case, after the first couple of times, your wife should have reached out and clarified that she wanted the money available in her account by the 1st, not transferred on the first.