Legal Question in Wills and Trusts in Georgia
Over the last few years my brother in law and wife have grown more distant, and he has been reluctant to spend money for his father's care (w/o a battle) or disclose how much is in the estate(s) Since he took over no accounting has ever been made, so only he know the status and history of this money.
My mother in law passed away almost 8 years ago. She hastily made the decision to put my brother in law, in charge of the family assets. The estate is in the neighborhood of a million and a half dollars, mostly cash.
The estate was set up in two parts for estate tax purposes.
Father in law's part = $1,000,000
Mother in law's part = $500,000 (bypass trust)
Brother in law is the agent of a durable power of attorney over father in law's money (1M), and the executor/trustee over mother in law's money (500K). Father in law gets all income from his own estate and wife's trust. In addition, he receives social security each month.
Questions:
Will wife have opportunity to look over records (receipts & dispursments) of her Dad's money while in control of her brother all these years? Also, wife is an heir of her mother's estate, does she reserve the right to see records of that now, or does she have to wait for dad to die?
In general, does she have the right to ever see the records while brother was in control of these estates?
"left out of the loop'
1 Answer from Attorneys
I would have to reivew the trust, POA, and court documents to determine if your wife is entitled to an accounting or other relief. A properly drafted trust will indicate if the contingent beneficiaries have a right to an accounting.
Is the father unable to handle his own affairs? If not, he can modify the durable power of attorney and also demand an accounting.
If your father-in-law is incapacitated, your wife can petition the court to gain control over his affairs.
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