Legal Question in Wills and Trusts in California
Real property
The trustee of my trust have sold a house for $900,000.00
they do not want to give up the money.
Escrow closed July 3, 2002
1.The Taxs have been paid to the IRS
2.All bills have been paid
3.The date of Death of my Dad is 5-8-2000
4.The trust says for everything to go to me and my 3 Brothers
5.The 3 brothers are getting along and in alinement w/each outher
6.The trustee's have the lawyer that drafted the trust working for them that we are paying $140,000.00 so far
7. The estate has a partnership and a Corp. that they are part of that is makeing money from Rents Apt. and Office.
8. Trustee's are our uncles and aunt.
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How can we get are Money from these trustee's
How can we freeze the uncles asets (the trustee's)
2 Answers from Attorneys
Re: Real property
The governing document in this case is the trust document. If the trust document requires distributions to Beneficiary(s) then you can file an action against the trustee(s) to force then to comply with the trust. If the trust document does not require distributions then you can either go along with the trustees plans or you can file suit against the trustees for mismanagment assuming that has occured. Either way I recommend that you seek legal counsel.
If the trustee(s) are co-mingling their assets and trust assets you probably have a basis to file against the trustee(s). Think about the family feud that may start if you elect to file suit. If your brothers are going along with this plan it may become very nasty. Again, seek legal counsel.
Re: Real property
The trustee and attorney fees sound excessive, but perhaps there's a justification--an attorney should review them and the trust administration progress--have you received any income from the trust yet? If the trust indeed is mismanaged, you and the other beneficiaries should file a petition to remove the trustee and charge them with the trust's losses.
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