Legal Question in Wills and Trusts in California
When my father died he left a trust for his children that his wife could draw on should she no longer be able to live on what she has. she has been drawing a large amt of $$ since he died even though she has many other assets she could use to live on, I think this is unethical and believe she wants to save her assets for her children and live off of our trust. Do we have the legal right to stop her from drawing from the trust? she is the executor of the trust.
2 Answers from Attorneys
Assuming you are a remainder beneficiary, you have the right to a Report of the trustees actions. You may also be entitled to a complete accounting, and maybe not. If she is violating the terms of the trust she is subject to removal by a court and surcharge (repayment) to the trust for any moneys taken in violation of the terms of the trust. You should consult an attorney as soon as possible. This posting is no substitute for legal advice and should not be relied on as such. Our firm has staffed offices in northern And. Southern California we can be reached at 916-235-8700x123 if you require further assistance. Jim.
Your rights as a remainder beneficiary of the Trust will depend on exactly what the Trust provides. If you do not have one, you should request a copy of the Trust document, including any amendments. You should also request that she provide you with an accounting of the Trust, its assets and expenditures. If you would like our assistance with this, or have any further questions, please do not hesitate to call me at 310.478.2541.
Jon Reich
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