Ask Me Help Desk - Executor being difficult!

Hello All!

This is my first post. I hope not to drag on.

My father passed in 1998. I received my inheritance out right, but my brother, who was 12 at the time, had his inheritance placed in a trust until 31. My brother is now almost 23 and has requested from my aunt (Executor and Trustee) a full accounting from the time my father died until today. She sent one statement for the month of January. This has been going on for months. She recently told him she was not wasting her time making copies of all the stuff and would have the accoutants do it, but that was going to cost him 2K-3K to get done. I myself never received any kind of accounting, but I signed the release anyway. At that time I did not know about this stuff and was very naïve and trusting. Wish I could go back. I now am having my doubts about some things. My father's estate with $ and property was over a million dollars. My brother has no idea what he started with and any idea what all he has. Is the only recouse at this time is for him to petition the probate court to make her provide this documentation? Is he entitled to this? Most of what I have read says she does. Thank you!

Yes, she should have given him accountings many years back, although you are were his guardian so you would have received them. Yes, approach the probate court and demand an accounting. If anything has gone amiss, then the court will deal with her. He has to know what he is entitled to,

She really didn't have to provide copies of 'all that stuff', her accountant, when ordered would have done the necessary paper work, charged back to the estate, to which she is an executor and any expenses would have come out of the estate. She would not have to put any money out, just a few phone calls to compensate the directives.

I would demand an accounting of the value of the trust at its establishment, what its value is now and what the holdings of the trust are. You don't need a monthly history at this point. But you want to know the overview.

Quote:

Originally Posted by khooten

Hello All!

This is my first post. I hope not to drag on.

My father passed in 1998. I received my inheritance out right, but my brother, who was 12 at the time, had his inheritance placed in a trust until 31. My brother is now almost 23 and has requested from my aunt (Executor and Trustee) a full accounting from the time my father died until today. She sent one statement for the month of January. This has been going on for months. She recently told him she was not wasting her time making copies of all the stuff and would have the accoutants do it, but that was gonna cost him 2K-3K to get done. I myself never received any kind of accounting, but I signed the release anyway. At that time I did not know about this stuff and was very naive and trusting. Wish I could go back. I now am having my doubts about some things. My father's estate with $ and property was over a million dollars. My brother has no idea what he started with and any idea what all he has. Is the only recouse at this time is for him to petition the probate court to make her provide this documentation? Is he entitled to this? Most of what I have read says she does. Thank you!

This might depend on the State but when there is a trust involved in many States the Executor has to make regular accountings to the Court until the estate is closed.

You can simply go to Surrogate's Court and ask to see the file - it will tell you what the dollar amount was at the beginning and on a monthly or semi-annual basis since that time.

He doesn't have to petition the Court - he's entitled to the info and the Court should have it. Somebody is preparing tax returns.

Thank you for your help. I actually was not my brother's guardian, that was my stepmother. My father was divorced at the time. Unfortunately, my father had in his will that his executor did not have to provide an accounting to the court. I am assuming that would include the trust as well. My brother just wants to make sure everything was done fairly, as some situations I remember at the time were a little confusing. My aunt told me that my father had a CD with a large amount of money, but that he never removed my stepmother as beneficiary. I took her at her word as she never showed me anything to prove it. We never saw copies of insurance papers, asset lists, debt lists, nothing. I myself was only given checks and told this or that is what is was for, but nothing to document such.

Quote:

Originally Posted by khooten

Thank you for your help. I actually was not my brother's guardian, that was my stepmother. My father was divorced at the time. Unfortunately, my father had in his will that his executor did not have to provide an accounting to the court. I am assuming that would include the trust as well. My brother just wants to make sure everything was done fairly, as some situations I remember at the time were a little confusing. My aunt told me that my father had a CD with a large amount of money, but that he never removed my stepmother as beneficiary. I took her at her word as she never showed me anything to prove it. We never saw copies of insurance papers, asset lists, debt lists, nothing. I myself was only given checks and told this or that is what is was for, but nothing to document such.

Oh my gosh - why - and I'm sure you don't know - did your father put that provision in his Will?

Depending on the wording in the trust someone should be filing tax returns.

What does your stepmother have to say in all of this?

If your aunt refuses to cooperate I think I'd consult with an Attorney and prepare yourself for some type of legal action - she has fiduciary responsibilities - for fear that your brother is going to become of age and it's all going to be gone.

I can't imagine why an Attorney went along with the accounting language - but it does happen.

Yes, I know. When I went back and reread the will a couple of years ago, I was like, why did he do this? It has been a very difficult situation with my father's family since he died. My brother and I each owned his house. We were the only beneficiaries in his will. I sold my part to his trust and then I was pretty much banned from property for no reason. I have always thought there might have been some partiality since I was adopted and my brother was not. I have always had this strong intuition things were not done properly. Hopefully, if My Aunt ever provides the documentation I will find out. She has been so difficult and uncooperative that it makes us both suspicous. Oh, I also forgot to state that my brother and I now live in Florida. I have been here 8 years and he moved here a year ago. He has his own place. Anyway, the trust is in GA. A lawyer friend here in Fl. Is actually the who sent the letters requesting the accounting and she still refuses to cooperate.

Also he may want to check with an attorney also, I tried, really tired to have a trust set up for a longer period over 21, but in the states I was at, the legal opinon at 21 they could force the estate to pay them the money.
So it may be worth looking into, esp if he is not receiving any regular payments.

Thank you! I will defenitely check into that.