Surprise Trust Document in the Mail

[Anonymous]

NP. You need to immediately hire your own experienced trusts and estates lawyer before you take any actions. The lawyer needs to be experienced in the state of the trust.

[Anonymous]

Did something happen to your uncle?

[Anonymous]

Anonymous wrote:NP. You need to immediately hire your own experienced trusts and estates lawyer before you take any actions. The lawyer needs to be experienced in the state of the trust.

You sound like a lawyer who wants to convince people they are helpless. She does not need a lawyer at this point to request the trust documents for heaven’s sake. Those documents should contain everything she needs to know and at that point she can consult a lawyer if there are questions. Most trusts are fairly straightforward. They are long but if you read them, you can generally figure out what they mean. It’s good that these documents are coming from a bank because even though they may take a substantial fee, they will probably act impartially and follow the terms of the trust exactly.

[Anonymous]

Anonymous wrote:NP. You need to immediately hire your own experienced trusts and estates lawyer before you take any actions. The lawyer needs to be experienced in the state of the trust.

What actions is she going to take that she needs a lawyer for??? Just get a copy of the trust document and read it. Absolutely no need for a lawyer at this juncture.

[Anonymous]

No as far as I know he is healthy. He had early stage cancer a few years back but beat it and in good health now.

I think what I am really grappling with is that my name isn’t on the statement at all. It only has my uncle’s name. I just have the bank telling me I am a remainder beneficiary. I almost don’t believe them. I will write and ask for the trust documents and see if we are in there or not.
Thanks everyone for the advice here!

[Anonymous]

Anonymous wrote:Great, that gives you the right to a copy of the trust. No need to hire a lawyer and spend $500 for this advice. Just write a letter to the bank and request the trust document. Then read it. Then see a lawyer if you have questions.

For $15 million, I'd not skip on the $500 of having a lawyer advise me on things. There could be major obligations and also tax implications to consider.

[Anonymous]

Since the uncle has no children, my guess is the uncle is worried he'll become incapacitated and needs somoene to write the checks to pay for long term care and so on. That could have spurred the recent change.

[Anonymous]

Some trusts contain a "bomb." A bomb goes off under the right conditions per the trust contents and you get automatically removed as a beneficiary. Trusts aren't cut and dry - better to get a lawyer to look it over.

[Anonymous]

Anonymous wrote:No one knows what your remainder beneficiary amount is until you see the trust documents. Of course it could be all. But it also could be $50k. So get the documents before you get too excited.

+1. You know of yourself and a sibling that are remainder beneficiaries, could be others named in the trust.

[Anonymous]

Anonymous wrote:Some trusts contain a "bomb." A bomb goes off under the right conditions per the trust contents and you get automatically removed as a beneficiary. Trusts aren't cut and dry - better to get a lawyer to look it over.

Which is why all of us are advising her to get the documents first. There is no “bomb” gonna go off by writing a letter to the bank asking for a copy of the trust which they are legally obligated to provide. This is all the lawyer will do at this point anyway. My only hypothesis is that all of you are lawyers and trying to get a buck out of her pocket.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some trusts contain a "bomb." A bomb goes off under the right conditions per the trust contents and you get automatically removed as a beneficiary. Trusts aren't cut and dry - better to get a lawyer to look it over.

Which is why all of us are advising her to get the documents first. There is no “bomb” gonna go off by writing a letter to the bank asking for a copy of the trust which they are legally obligated to provide. This is all the lawyer will do at this point anyway. My only hypothesis is that all of you are lawyers and trying to get a buck out of her pocket.

Not a lawyer but if I was, I woudn't be hitting DCUM for leads.

If it was a $100k trust, I'd say no need to ask a lawyer, but this is $15mln. For serious money, spending $500 for some legal advice seems like a good idea.

[Anonymous]

You can usually do a consult with an attorney for a few hundred dollars.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Some trusts contain a "bomb." A bomb goes off under the right conditions per the trust contents and you get automatically removed as a beneficiary. Trusts aren't cut and dry - better to get a lawyer to look it over.

Which is why all of us are advising her to get the documents first. There is no “bomb” gonna go off by writing a letter to the bank asking for a copy of the trust which they are legally obligated to provide. This is all the lawyer will do at this point anyway. My only hypothesis is that all of you are lawyers and trying to get a buck out of her pocket.

lol - not a lawyer. I wouldn't go beyond having the lawyer tell me what are the pertinent points of the Trust, because that'll answer the questions OP has. Also, some lawyers see a $15m trust, and they want a piece of it. So I'd be careful beyond getting some information.

[Anonymous]

OP- PLEEEEASE come back and update us when you learn more! I am SO curious about this!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Some trusts contain a "bomb." A bomb goes off under the right conditions per the trust contents and you get automatically removed as a beneficiary. Trusts aren't cut and dry - better to get a lawyer to look it over.

Which is why all of us are advising her to get the documents first. There is no “bomb” gonna go off by writing a letter to the bank asking for a copy of the trust which they are legally obligated to provide. This is all the lawyer will do at this point anyway. My only hypothesis is that all of you are lawyers and trying to get a buck out of her pocket.

Not a lawyer but if I was, I woudn't be hitting DCUM for leads.

If it was a $100k trust, I'd say no need to ask a lawyer, but this is $15mln. For serious money, spending $500 for some legal advice seems like a good idea.

And you know what the first thing the lawyer will say - get a copy of the trust documents. So no, OP doesn’t need a lawyer at this point since she doesn’t even have the trust documents.