To whom it may concern: I have a question in regards to an estate. My father passed away June, 2012. He had a pour-over will and a self declaration of trust to cover the issues of his estate after his death. There are 3 beneficiaries: myself, my brother, and our father's widow, who was named as the Trustee. Though there are far too many issues to delve into right now with the actions of the Trustee, there is one specific matter that we would like addressed. Our father had created a joint savings account at a local credit union with rights of survivorship. The four "owners" of this account were himself, his wife, my brother, and me. It was our understanding, from our father's statement to us that this money was put into this account to keep it "protected" from the general assets of his estate. Upon his death, the Trustee transferred this money into a new account that she created as a trust account. We believe there is a clause in the trust document that prohibited that action. In regards to payment of debts tied to the estate: "None of the foregoing payments shall be made out of any asset not otherwise includible in my estate for federal tax purposes." Any information you could provide would be greatly appreciated.
1 Answer from Attorneys
you are entitled to a copy of the trust as a beneficiary. your father's wife was not entitled to transfer the account.
please contact me at 312.541.2822 to discuss this matter further.
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