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[quote=Anonymous]I received a fat envelope in the mail from a bank and opened it.  Inside was the full account breakdown of a trust that is not in my name.  It is A LOT of money.  I wrote the bank and asked why I received it and turns out I am a "remainder beneficiary" of a trust belonging to my uncle.  It was set up a long time ago by a long dead relative.  My other sibling is a beneficiary as well.  We are both confused. The bank wasn't forthcoming on more information and I am not close with my uncle... at all.  He is unmarried, no children of his own, and generally a rather unlikable person so I don't think he would be receptive to questions and I don't feel comfortable asking them.  So I only have you, DCUM. I can't really discuss this with friends either.

I have no personal experience with trusts... so basically I am curious if this money can be considered "mine" for future planning purposes?  I assume it will be passed on when he dies.  Would it stay in a trust or would it be dissolved? Is the money taxed at that point?  He is in his mid-70s but could he still spend it all down if he wanted?  I assume there are restrictions on how much can be pulled from a trust.  It is $15 million dollars so he would have to work real hard to spend that down.  He hasn't seemed to touch it thus far.  Why would he not mention it to me, or why would the bank not reach out to me to discuss it before I got this random envelope in the mail? I think the bank is the trustee.

Obviously a lot of questions - thanks DCUM for your help on this very niche question. I get along fine but I am not rolling in money so if I know retirement is funded, it would be a huge weight off my shoulders and that of my family. [/quote]

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