Legal Question in Wills and Trusts in North Carolina
My father died a year ago with an irrevocable trust. Up until this month all beneficiaries have received money from the same exact trust account titled in my father's name. This month the check is titled in the lawyers name with trust account under. Should I be concerned?
1 Answer from Attorneys
All trusts become irrevocable at death, so this is not relevant. However, nobody here can answer your question because nobody here has seen the trust. What does the trust say about distribution of assets? How much money is in the trust and how many beneficiaries are there? Who is the trustee? Who is the successor trustee? The lawyer? What does the trust say about termination? Did any letter of explanation accompany the check from the lawyer's trust?
Trust assets are distributed to the beneficiaries from the account set up for the trust. I cannot think of why a lawyer's trust account would be used. Lawyer's trust account funds are used to hold funds for the client, in this case, the trust for your father/ Any monies thus should have been refunded to the trust if it existed. Has it been terminated? If the trust assets have been distributed and/or it is no longer feasible to maintain the trust, the trust should be terminated and if there are any remaining assets they should go to the beneficiaries of the trust.
I think you need to make a copy of the trust and any disbursements you received and go see an estate/trust/probate lawyer or else you need to talk to the trustee or the trust attorney to find out what is going on.