What is the name of your state? mi
I was named in my parent's will and trust as personal rep and Successor Trustee with everything to be split between the siblings equally. The terms of the trust state that it would be funded during our parent's lifetime by making transfers to the trust, that during their lifetime they alone were trustee and that it was revokable until they died. There was another provision of the trust to the effect of "...it is my intention and desire that joint accounts be disbursed according to the terms of the trust..."
I was on a number of bank accounts and cds with this parent - joint with survivorship. None of these accounts were transferred to the trust... as everything else was. The bank has a letter from parent authorizing my name to be added as a "joint signer on all accounts" and parent confirmed this in a phone call to a bank employee. The bank manager has confirmed that all parent's accounts listed me as jwros and said everything was mine.
Throughout the last year of parent's life I was told numerous times that I was to receive more than the others due to decades of a closer relationship, caretaking and companionship. Parent was pretty unhappy with siblings for a variety of reasons. I have never had a relationship with any of the siblings.... they are considerably older than I and we've just never gotten along. I was extremely close to both parents while they were alive. Both are deceased.
Now I am being taken to court by disgruntled siblings wanting all the funds in the joint accounts turned over to the estate for equal distribution.
Can they succeed here? What would they have to prove to a judge? Our parent was sharp right to the end and made all the financial decisions. I assisted by writing checks (parent had severe shakes due to meds) and running errands.
I'm being told that the wording of the provision is not mandatory language and anyway...these accounts are mine regardless of any trust provision die to the survivorship feature and siblings have a real uphill battle on their hands. Is this correct?
I was named in my parent's will and trust as personal rep and Successor Trustee with everything to be split between the siblings equally. The terms of the trust state that it would be funded during our parent's lifetime by making transfers to the trust, that during their lifetime they alone were trustee and that it was revokable until they died. There was another provision of the trust to the effect of "...it is my intention and desire that joint accounts be disbursed according to the terms of the trust..."
I was on a number of bank accounts and cds with this parent - joint with survivorship. None of these accounts were transferred to the trust... as everything else was. The bank has a letter from parent authorizing my name to be added as a "joint signer on all accounts" and parent confirmed this in a phone call to a bank employee. The bank manager has confirmed that all parent's accounts listed me as jwros and said everything was mine.
Throughout the last year of parent's life I was told numerous times that I was to receive more than the others due to decades of a closer relationship, caretaking and companionship. Parent was pretty unhappy with siblings for a variety of reasons. I have never had a relationship with any of the siblings.... they are considerably older than I and we've just never gotten along. I was extremely close to both parents while they were alive. Both are deceased.
Now I am being taken to court by disgruntled siblings wanting all the funds in the joint accounts turned over to the estate for equal distribution.
Can they succeed here? What would they have to prove to a judge? Our parent was sharp right to the end and made all the financial decisions. I assisted by writing checks (parent had severe shakes due to meds) and running errands.
I'm being told that the wording of the provision is not mandatory language and anyway...these accounts are mine regardless of any trust provision die to the survivorship feature and siblings have a real uphill battle on their hands. Is this correct?