Legal Question in Wills and Trusts in California
Remainderman
I'm the remainderman of my aunts estate. Originally, my aunt created the trust to care for her daughter, who passed last March. The original bank managing the trust had been bought, and the new bank transferred the trust to a 3rd bank. I can't find out now which bank was managing the trust..! When I called the last bank, I was told to retain an attorney, as they wouldn't release any information over the phone. Also, if my cousin passed in 3-07, isn't there a legal obligation to notify the remaniderman? The trust was created in NY, and I'm living in Ca. I haven't moved for 15 years, so all my information (adddress/phone) is currently listed in the trust. Please advise on steps I can take. I haven't received anything regarding the trust since 2003, at which time I was told that bank #2 would be managing the trust. I never would have known another bank had taken over, except for the kindness of a secretary. I feel something shady happening, and there are no other living heirs to the estate. I've never received an accounting of the trust (except when my aunt passed 22 years ago), and my cousin was to live on the interest the trust created.
1 Answer from Attorneys
Re: Remainderman
You may very well need an attorney to write to the bank demanding an accounting since they sometimes will not pay any attention to a non-customer. If you do have an attorney do it, you must designate him as your official representative, sent him a copy of the trust, Will, and any other documents you have, that old accounting of the trust, and a detailed summary of exactly what has transpired. You can write the letter yourself but it probably will be less effective and you might not cover all the points [such as on what basis did they transfer management of the trust]. I would normally charge $100 per hour to do something like this, either the writing of the letter or telling you what should be in the letter. Most attorneys could write a fairly good letter for you.
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