Legal Question in Wills and Trusts in New Jersey

Re: family generation skipping trust

Yes, there are some ways that this situation can be corrected. You need more than casual advice to do it. My suggestion is that you look in any of the lawyer directories on the Internet and locate several firms in your area that show more-than-ordinary competence in estate law. Lawguru does not have a specific breakout for wills, trusts, and estates, but lawyers.com does. Make some appointments and get some help. I know a good estate lawyer in the area and can get you connected if you need it.

Re: family generation skipping trust

It is hard to answer this without reading the terms of the trust. Fiduciary fees are set by statute. The fees you cite, if annual, seem larger than the statute provides. As a beneficiary you have the right to an accounting, to verify the legitimacy of these fees. Fees are both payable on income(6%) and corpus (the assets - usually about 1-1/2%) annually. Plus, there are probably professional fees for tax return preparation. It sounds like they are also charging investment fees for managing this account. This is one of the reasons I dislike corporate trustees. I suggest you contact the trustee, get an annual accounting and fee breakdown. Then I can review the numbers, if you send them to me, and provide more guidance.

Re: family generation skipping trust

Dear sir or madam:

Yes, there are steps you can take to protect your family's interests. Please contact my office at [email protected] or by phone to schedule a consultation.

Anthony S. Park