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How to get an accounting of a trust and or estate
Anonymous3 views1 answers
My mother in law passed away 7 yrs. ago. My sister in law was in charge of the trust account. We recieved a check 5 yrs ago,but our children recieve their percent at age 25 (1/3) age 30(1/2) age 35 the remaining balance.My oldest son is 33 and recieved 2 payments so far. Now that my father in law passed away 1yr. ago, we are being told that there isn,t any money left in the trust account.My daughter will turn 25 this year and my sister in law says that she will have to sell the house first(which is in my mother in laws name) and that she will wait as long as she wants to sell it. So we would like to know where that money went that was suppose to still be there.
It sounds like everything was owned by a trust since the time of your mother-in-law's death? Under a trust, each of the beneficiaries is entitled to an accounting (although the requirements vary somewhat by state law). In Colorado, an accounting is reasonable a minimum of once a year. Put a request for an accounting into writing and submit it to the Trustee. If you still don't get an accounting, often hiring an attorney to put such a request into writing is enough to encourage someone to do so. Last step would be filing a formal demand for an accounting.
All the best,
~Catherine
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Disclaimer: Please note that this answer does not constitute legal advice, and should not be relied on, since each state has different laws, each situation is fact specific, and it is impossible to evaluate a legal problem without a comprehensive consultation and review of all the facts and documents at issue. This answer does not create an attorney-client relationship.
