Legal Question in Wills and Trusts in Oklahoma

irrevocable trust and trustee

my mother recently passed away and there was an irrevocable trust set up 36 years ago of $ 250K and beneficiaries were myself and 3 sisters and the amount disbursed upon my mothers death were equal shares (4 ways)I am concerned that we have been informed by the bank trustee that the amount in the trust is only $ 182K Can we request a copy of the initial trust setup and records of how money has been disbursed over the last 36 years ? The bank has used this money for 36 years and there is now less money than what was invested. Have we been duped and is there a way to obtain disclosure ? THank you


Asked on 5/21/03, 2:00 pm

1 Answer from Attorneys
Hunt John Urgentlegalcare.com

Re: irrevocable trust and trustee

Thank you for your question. Your post does not indicate where the Trust is located so I am assuming it is Oklahoma. In Oklahoma, it is possible to obtain an accounting of a Trust such as you described through the Probate Court Division of the District Court. If the Bank or anyone for that matter was acting as Trustee there are duties called fiduciary duties which the law of Oklahoma imposes on the Trustee. Whether a violation of these fiduciary responsibilities occurred causing the Trust to decline in value can only be determined by looking at the facts and accounting. You may wish to retain an attorney to check this out for you.

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Answered on 5/21/03, 2:13 pm


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