Legal Question in Wills and Trusts in Missouri
corporate trustee new rules? or truth?
Dad had a written pourover will, and a revocable living trust to be activated at incapacitation- May 07, or at death, August 07. We didn't have a copy of the trust, so we didn't know to notify the bank of his incapacitation. Trstee was notified of dad's death within 4 days of DOD.
Trstee says they only have access to info related to trust assets beginning with the date they took control of the assets, mid October 07, nothing before that date. Can a trust just pick an arbitrary date to begin, negating the date of incap/ or death, that my dad chose for them to take control of his assets?
I asked the bank trustee for an accounting of his checking and saving accounts, credit union accounts, credit cards and pensions.
Trstee says she has no info available on any of these, as they are not assets of the trust. If this is true, who is supposed to be watching over them and where are they, legally speaking? Legal limbo?
She says she has no info on his pension accounts, yet the trust has refunded a pension payment.
She says she has no info on credit cards, yet she paid off a collection service for an outstanding credit card bill.
Is this correct? Who can help us account for the accounts?
1 Answer from Attorneys
Re: corporate trustee new rules? or truth?
If you are beneficiaries then statutes provide a right for you to file a suit against the acting trustee to determine the answers to your questions and possibly require an accounting.You should consult with an attorney right away since the time for filing the lawsuit is limited.