Legal Question in Wills and Trusts in Texas
Closing the Family Trust Problems
My father lived and died in Texas and left a Family Trust that has drastically changed since marrying his second, younger wife 7 years ago. It's been two months now and his wife has not delivered the Trust to the backup Trustee. (We are pretty sure that she is not the Trustee.) We 3 daughters do not know if we are still in the Trust....or if the wife transferred the Trust in her name just before he died. We also know that she is selling property that was bought with Trust money and not returning money to Trust. Are there any Texas laws that govern the following: 1. Time frame that backup Trustee has to receive the Trust for closing? 2. Are the children allowed to know whether they are included in the Trust? 3. Can a Trust be transferred to the wife without the Backup Trustee's knowledge? 4. Can the wife sell items in the Trust and keep the money? Thanks.
1 Answer from Attorneys
Re: Closing the Family Trust Problems
1. The limitation is four years.
2. If no one has a copy of the trust, the possible beneficiaries under the old Trust will have to take legal action to force disclosure of any revised trust.
3. We don't know if the trust was a revocable trust or not. If revocable, the Trustor could revise the trust without informing the backup trustee.
4. It all depends upon the revised trust, if any.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
