Legal Question in Wills and Trusts in California
Did not receive shares from trust
I was named as a beneficary in a trust. The trust stated that at the age of 21 I was to receive 1/2 of my share and then at the age of 30 I was to receive the remaining share. The other beneficaries received their full share at the time of the Trustor's death. I am 27 and received have not received any monies.
Here is my questions:
I was told that the trust was closed and there is not any funds left to distribute. Is this possible? (After all funneral and other bills were paid off from the trust, the other beneficiaries received their funds) I requested accounting info from the Trustee and was told there was not any records kept. If this is possible, What do I do? Is not a trust ''BLACK AND WHITE''? Please assist.
Thank you.
1 Answer from Attorneys
Re: Did not receive shares from trust
See an attorney immediately, and have the trust reviewed. If your interest was definite and certain, and should have been kept in trust, the trustee owes you that money.
It's possible the trust allowed for distributions from your share to your parents/guardians for your care, but even so, records should have been kept.
It's important that you take care of this right away, as statutes of limitation may be close or may have already run on any claim you may have.