Legal Question in Wills and Trusts in Arkansas

Control

My question involves a revocable trust

In June my stepmother pass away, she had a revocable trust made up in 1995 naming my wife as trustee.

She had everything she owned listed in the trust, car, truck, and the property that she owned.

Upon reveiwing the trust we found that she had a piece of property listed that she had sold in 1991.

So we went to the lawyer she used to drawup the trust and he told us that we would have to file an

Affidavit for Collection of Small Estate and that it would have to be published in the local newspaper

then we have to for 90 days to see if anybody put in a claim for payment. That time has come and gone.

According to the trust my wife is suppose to handle the sale and distribution of all assets in the trust.

The lawyer wants us to send him the orginal warrenty deed so that he can have it transferred to her name

and then he'll handle the sale of the house. We do not want to use this lawyer to handle anything other than

the filing of the Affidavit which has already been done.

My question is- Is the trust still in effect and is my wife still in control of the trust and its assets.


Asked on 1/15/07, 4:20 pm

1 Answer from Attorneys
Cullen Geisler The Law Offices of Cullen P. Geisler PLLC

Re: Control

The Trust is still in effect as long as any purpose the Trust was created for can still be accomplished. Usually you can break it up and divide up the assets is you get consent from all the beneficiaries of the Trust.

www.lawcpg.com/EstatePlanning.html

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Answered on 1/15/07, 5:33 pm


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