Beneficiaries' hindrance of trust Administration

[trust_id_09]

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

Among 5 beneficiaries, myself included as Trustee, one is a total ass the other is just a follower and greedy. There seems to be pent up resentents because I was chosen to manage my deceased relative's affairs.

There is no apparent reasons for them to stage a mutiny, since from my part, so far, I've done my job with all of them and have no problem with two of of the four. The one obvious reason, now most of them received a copy of : will,trust and an account except for the ass(received the account only via email) but, refused to provide me w/ a legal address and IDs in order to receive his copies, the deceased left no provision to care for one member of the family who is related to all of Us.

The two of them are now staging a (silent) mutiny and don't reply to any communications sent for over one (1) month. Which is impeding with the distribution process.

Can I distribute $$ to the two (+ my share and fees) who are not in contravention since they've requested theirs and returned their approval of the account and any supporting docs I 've asked of them?

I plan on ignoring the other two since it is their $$ they can get it whenever they want. However, my main concern is there is a property which is on the market and I plan to close the estate once that is done with.

What impact might, their attitudes if unchanged, have on closing the estate?

Thanks for any input you may have.

 

[Dandy Don]

You need to consult with a trust attorney about your options or you could be sued (rightfully or wrongfully) by the beneficiaries if you make mistakes in disbursing their funds. Yes, they are not cooperative but there are steps you can take, with your attorney's advice, to advance the process. Sending the uncooperative beneficiaries a certified letter stating that if they do not provide the requested information within a certain deadline, that they risk not receiving their funds indefinitely. How ungrateful for them to be so petty as to not cooperate just because they are jealous! You will have to set their portion of the funds aside in an account until they comply.

DANDY DON IN OKLAHOMA ([email protected])

 

[trust_id_09]

Beneficiaries' hindrance of Trust Admin.

You need to consult with a trust attorney about your options or you could be sued (rightfully or wrongfully) by the beneficiaries if you make mistakes in disbursing their funds. Yes, they are not cooperative but there are steps you can take, with your attorney's advice, to advance the process. Sending the uncooperative beneficiaries a certified letter stating that if they do not provide the requested information within a certain deadline, that they risk not receiving their funds indefinitely. How ungrateful for them to be so petty as to not cooperate just because they are jealous! You will have to set their portion of the funds aside in an account until they comply.

DANDY DON IN OKLAHOMA ([email protected])

Thanks. I am scheduled for a consultation w/ an attorney next week.
But, you were unclear as far as distributing shares of the 2 cooperating bene.
There is no mistake to be made each individual has their stated percentage. The math is very simple, after all expenses are paid and a reserved funds is allocated for bills, taxes and such..., the rest is to be "divied-up" .

Thanks.

 

[tranquility]

Beneficiaries, by their nature, CANNOT, screw up any distributions. They have no say, they have no power. They can sue for a breach of fiduciary duties.

If the duties are not breached, the only risk is a slower distribution as a wise executor will hold back money to pay for the defense of the estate until the time to challeng is finished.

Of course, benefiting some beneficiaries over others is a breach.

Why would you care? Go slow. Distribute according to statute. Get an attorney to advise.

That is, unless, you are gaining benefit. Then you probably want a faster distribution. Sorry about that. Rachet it back and protect yourself. Or, go to the bar and complain about the others to your friends.

 

[trust_id_09]

Trust Admin.

Beneficiaries, by their nature, CANNOT, screw up any distributions. They have no say, they have no power. They can sue for a breach of fiduciary duties.

If the duties are not breached, the only risk is a slower distribution as a wise executor will hold back money to pay for the defense of the estate until the time to challeng is finished.

Of course, benefiting some beneficiaries over others is a breach.

Why would you care? Go slow. Distribute according to statute. Get an attorney to advise.

That is, unless, you are gaining benefit. Then you probably want a faster distribution. Sorry about that. Rachet it back and protect yourself. Or, go to the bar and complain about the others to your friends.

There can't be any violation of " Duty to Act with an Even Hand", since I don't know these people. I am just related to them biologically via different marriages.

Quite frankly, I really want this saga to end. Financial gain (doubt it. I am only getting what I am entitled to) is the least of my concern. The toxic atmosphere is primarily my beef.

The pressure to end this saga is coming from the two (2) bene. and they are as well as I am tired of the nonsense that is been going on for more than six months. And I whole heartedly agree.

Thanks though, for your insight.

Now where can I find info about statute for estate distribution for the sate of new york; any link I can look up?

 

[tranquility]

That you think there is a statute, I suggest you get an attorney. Fiduciary responsibilities are more complex than you seem to understand from your quote.

Can I distribute $$ to the two (+ my share and fees) who are not in contravention since they've requested theirs and returned their approval of the account and any supporting docs I 've asked of them?

I plan on ignoring the other two since it is their $$ they can get it whenever they want. However, my main concern is there is a property which is on the market and I plan to close the estate once that is done with.

This could very well be a fiduciary breach.

See an attorney.