Legal Question in Wills and Trusts in Florida

Good morning,

My wife's parent are both deceased and there was a trust setup that would take care of my wife and son, my wife's sister along with her two kids. After my mother-in-law passed away all monies were distributed and either investment accounts or money markets were setup. According to my wife's investment company the trust has been dissolved and she is the sole owner. Does this also hold true for money market accounts? My sister-in-law claims that she promised my father-in-law she would watch over my wife's money, and now she wants to switch to another bank because she has been having issues with the bank. My wife wants to keep the money market account where it is now. My sister-in-laws name is also on my wife's account. Does she have any legal right to switch my wife's money if my wife does not want it to have it switch? Can a trust be active if there are no monies in that trust?


Asked on 2/18/13, 8:55 am

2 Answers from Attorneys
Barry Stein De Cardenas, Freixas, Stein & Zachary

I think you need to get an attorney involved who can review the trust agreement. If the trust is closed then the funds likely are in each person's hands and the other cannot supervise them. That said the agreement would control.

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Answered on 2/18/13, 9:42 am
Lucreita Becude Lucreita D. Becude, P.A.

I agree with Mr. Stein. If the trust is closed and funds disbursed then what is sister up to?

If I can be of assistance, please contact my office for an appointment 904-997-1031

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Answered on 2/19/13, 8:19 am


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