Legal Question in Wills and Trusts in Oklahoma
executor
what are the duties of being an executor of a trust when there 8 other siblings that hold intrest in equal shares. can the executor sell, give away, use, dwell in any of the estate? there is one brother (executor) that has not closed probate for over one year so he could live and use all personal property. he went through over $16,000.00 that was put into a trust. He has not shown an accounting of anything. he has not obtained permission from the court for anything. what is our recourse?
2 Answers from Attorneys
Re: executor
Your ultimate recourse is that the trustee (you called him the "executor") must give a full accounting and explanation if any beneficiary of the trust requests it. The request should be made if possible in writing to the trustee. If writing is not practicable, oral request is a "last resort."
If the trustee fails to account and explain within a reasonable time after being specifically requested to do so, any beneficiary is entitled to file a petition in the Superior Court and the court will compel the trustee to account and explain in full. The court has sanctions to enforce its orders.
The beneficiary would be wise to obtain the advice and coaching of an attorney (or hire an attorney to do the court proceedings) if the trustee fails to account and explain promptly afterbeing expressly asked to do so.
As stated above, the law provides that any beneficiary of the trust is entitled to ask for and obtain an accounting AND FULL EXPLANATIONS promptly.
Re: executor
This is a supplement to my earlier reply:
It looks like you are dealing not just with a trust but also with a PROBATE ESTATE. You and the other siblings have basically the same rights regarding the probate as you do with the trust.
By the way, dis the court require the executor to give a bond for faithfiul performance; and if so, for how much?
It will probably be best if as many as possible (not just 1 or 2) of the 8 other siblings (i.e., beneficiaries/legatees) join in the request and demands for full and proper ACCOUNTING, EXPLANATION, AND PERFORMANCE by the executor/trustee.
If you would like some more explanation after I have been given a bit more information, yuou may want to telephone me. What you finally decide to do will be most effective if tailored to the facts and particulars of your case. There is no charge for the initial phone consultation.
LawGuru does not allow phone numbers to be put into these general answers to inquirerers' questions. My phone number accompanies my name and e-mail address and office address.
Sincerely,
Edward Ardzrooni
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