Legal Question in Wills and Trusts in Maryland
Reversing a Trust
I have a couple of questions I would appreciate if someone could answer.
1) I live in Virginia but my trust is in a bank in Maryland. If I decided to go to court to see if I could get the trust reversed, would I go to court in Maryland or in Virginia?
2) I am 60 years old (no young kid) and my mother recently died. I found out after she died that she left everything in a trust. I was totally shocked that at my age she would leave everything to me in a trust that I can hardly touch. She had told me many times that there would be enough money to help with my retirement and put a down payment on a home if I wanted to. She didn�t say that the bank would be controlling my money.
3) She also told me that it would probably take about two years before I got all of the money which makes me wonder if she really knew how restricted it was.
By mom was from the old school where she thought that the �man knew all, and she did what he said� so I really don�t think that she decided this on her own.
Is there anything I can do to get my money out of the trust?
1 Answer from Attorneys
Re: Reversing a Trust
It is very hard to give a general answer from this information.
The controlling question is probably where your mother lived when she created the trust.
It is not a question of where the money is being held. For example, a trust set up in Virginia, with a Virginia trustee, could have the money invested in a New York investment fund.
So I think you would have to start with where your mother lived when she created the trust and what the trust itself actually says.
Do you have a copy of the trust document? You need to start with that, I think.
This is not the first time that I have seen a bank more interested in its own fees than doing what is best for you.
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