Disgruntled beneficiary spewing venom to trustee

[trust_id_09]

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

I am at my wits' end as the trustee of an irrevocable trust. I am ready to make an interim distribution to all named beneficiaries. But, the problem is one beneficiary is pod about his/her share which is 6% less than the others and I've been the recipient of nomerous crual verbal attacks from this person.
I sent an accounting to be approved and we are all in limbo fro 3 months now and counting? Help!
Anything legal recourse other than the courts? I want to avoid any litigations at all costs.

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

 

[Dandy Don]

Is there a reasonable explanation for the 6% difference?

As long as you do the distributions in accordance with the language in the trust, SO WHAT if a beneficiary is dissatisfied with that? That says more about the beneficiary's bad attitude/unreasonableness. A beneficiary can file any lawsuit they want, even if it is for frivolous reasons. Stop being afraid--I'll bet the beneficiary will be very happy after getting a check and you probably have nothing to worry about.

Have you posted a trustee's bond or did the trust exempt you from that requirement?

Make sure your actions have been reviewed by a CPA or tax accountant who has experience with estates and then be CONFIDENT in the knowledge that you have handled the trust distributions correctly!!

DANDY DON IN OKLAHOMA ([email protected])

 

[tranquility]

On a side note, don't count an accounting "approved" until it is. Courts don't do it like accountants.

 

[trust_id_09]

Disgruntled Beneficiary

Is there a reasonable explanation for the 6% difference?

As long as you do the distributions in accordance with the language in the trust, SO WHAT if a beneficiary is dissatisfied with that? That says more about the beneficiary's bad attitude/unreasonableness. A beneficiary can file any lawsuit they want, even if it is for frivolous reasons. Stop being afraid--I'll bet the beneficiary will be very happy after getting a check and you probably have nothing to worry about.

Have you posted a trustee's bond or did the trust exempt you from that requirement?

Make sure your actions have been reviewed by a CPA or tax accountant who has experience with estates and then be CONFIDENT in the knowledge that you have handled the trust distributions correctly!!

DANDY DON IN OKLAHOMA ([email protected])

Thanks for your insight. Yes. It is clearly detailed intructions of the Trust by the Settlor as to what percentage each beneficiary gets. I guess one might be inclined to say he/she wants to blame the messenger.

Also, It is not so much that I am afraid, and I am not. Except I feel powerless legally to stop or remedy any of these personal verbal attacks. Trust me there won't be any law suit from him/her part and he/she knows that he/she has no standing. Furthermore, he/she does not want to risk a court ruling in my favor hence, he/she will be in violation of the No contest Clause provision of the trust. A copy of that trust has already been mailed to all concerned.

I just don't like all that vulgarity an abuse all over $$. Settling old score or vendetta one might say.

There is a provision in the trust exempting me from bond. I understand somewhat what it means but, can you elaborate a bit more on the difference between posted bond and exempt ? It will be much appreciated.

Yes I am lucky to have a dear friend who is a CPA. In that respect, I feel pretty confident.

Many thanks to all who responded.

 

[trust_id_09]

Disgruntled Beneficiary...

On a side note, don't count an accounting "approved" until it is. Courts don't do it like accountants.

I sent a general affidavit form to all but the disgruntled one for whom e email approval is acceptable.

I also have a question. There is a provision in the trust that states if no objection(s) is made in sixty days from the date the accounting is mailed and received (sent certified mail returned signature). It is considered approved.
At which point I can proceed with the distribution. Any insight on that?

Othewise, if there is/are any, a petition has to be filed to the courts so these objection(s) can be made in person before a judge. The person in question can't be present to make them if any for personal reasons.

Many thanks!