Legal Question in Wills and Trusts in Pennsylvania
My grandfather transferred a large piece of property to my family, with my father as the trustee on behalf of the rest of us. My father has a 12% interest or share in the real estate, while the rest of us have 88% collectively. I discovered that my father sold the mineral, gas, and oil rights for the property, which also had me and the other beneficiaries listed on the sale. The trust document seem pretty standard, so my question is, even though he is the trustee, was my father required to divide the profit from selling the mineral rights between all of us, the other beneficiaries? If he was and did not do it, what can I do about it? It has been about 3 years since he has sold the rights, and they were sold for $450,000.
1 Answer from Attorneys
Mineral rights can be severed and sold separately. And the trust document would authorize the trustee to act on behalf of the beneficiaries. The issue is whether the trust permits this and whether the money went back into the trust for disbursement to the beneficiaries. You need a trust litigation attorney to review the trust documents. Is the trustee required to send the beneficiaries an annual accounting? Has this been done? If not, has one been requested?
The trust should indicate the situs of the trust and the law governing its operation. I would see a probate/trust litigation attorney who practices in whatever state that is to review the trust documents and advise you. If an accounting has not been done, one can be requested. Money can only be distributed to the beneficiaries as per the trust terms. If the trustee acted properly that is the end of the matter. If not, the trustee can be removed.
Your time to act is growing short. You have a lot of mney at stake and you and the other beneficiaries had better see a lawyer now before it is too late.
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