Reply to Surprise Trust Document in the Mail

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[quote=Anonymous][quote=Anonymous]Do you have the actual trust document? If so, have you read it? It may answer many of your questions. As her successor trustee, I administered my aunt’s trust ($300,000) when she became unwell and I used it to pay her expenses while she was alive and the trust had explicit instructions for how to distribute assets when she died. I don’t see why you need a lawyer unless you can’t understand what the document says.

So, what does it say? There is a reason the bank sent it to you, and I don’t know what that reason is. They have no obligation to notify beneficiaries until the assets are going to be transferred. Then there is a requirement in most states to notify beneficiaries within 60 days that they are a names party to a trust.

Step 1: read the documents [/quote]

Actually this is in Maryland and the bank told me according to Maryland law, the beneficiaries do now legally have to get annual statements of the trust.  I do not have the actual trust document though. Just a bank statement of the various investments. I will ask the bank if they can send me the actual trust document then. I’m not sure if it will be permitted if in his name but I can try.[/quote]

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