Legal Question in Wills and Trusts in Arizona
Hello,
My father passed away this past July and he has a trust. he also has a life insurance and it is to be split 50/50 between my brother and myself. My brother took the life insurance money and had it moved into the trust account. He is the 1st executor of the trust and I am the 2nd. Am I correct on saying he should have sent me my share of the funds when he recieved it or is he correct on putting it into the trust.
thank you for your help
Marcus C. Engelhardt
1 Answer from Attorneys
It depends upon who was named as a beneficiary of the insurance policy, was it you and your brother, individually, or was it the Trust or was it your father, which would mean that his Will would control and determine who the insurance proceeds should be paid to.
Your brother is Trustee of the Trust. He is bound by law to administer the trust administration in a fair, honest, prudent, timely and expeditious basis, protecting the interests of all concerned. If you have concerns about the way he is administering the Trust, you can hire counsel and find out what is going on and why he is doing what he is doing. You may not need counsel, if he will give you the information voluntarily.
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