Legal Question in Wills and Trusts in Arizona

My mother died in August of 2012 and my father died in August of 2013. The family trusts are in a bank in South Dakota. The stocks and bonds were all sold and put into cash. The real estate was all that was left and it was sold in November, closing in December.
How long can the bank legally keep from distributing the money to the four children who are the beneficiaries of the trust. At this point, the bank is literally stealing money from the combined trusts and spending it in what I consider to be criminal ways and charging exorbitant fees. What fiduciary responsibilities does the trust department at the bank have at this point? Is there a time limit as to how long they can keep the money? It is over $1 million.

Asked on 1/16/14, 7:22 pm

Charles Bruen CBCG Law, PLLC

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It sounds like you will need to look at the terms of the Trust in order to determine what their obligations are. Are you in possession of a copy?

Chuck Bruen

10451 W Palmeras Dr

Suite 250

Sun City, AZ 85373

623-977-8300

Answered on 1/20/14, 9:27 am

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