My grandfather passed away in 2006 and left money to be distributed to each grandchild when we turned 26. My two uncles were left as trustees. I am currently only 23, but the money would be of great help right now to me. When I asked if it was possible to receive it early, I was told I would have to wait until I turned 26. I have a feeling that one of my uncles spent the money in the trust. Are there any charges I can bring against them legally if this is the case, or do I have to wait until I am of age and then press charges if I don't receive my portion of the trust?
2 Answers from Attorneys
Is it in the probate court? If so, you are bonded and the money would be protected if stolen. If not, you would need an attorney to intervene to make sure things are on the up and up. Contact me to discuss further.
Based upon your question, I am assuming that the trust is not being administered in the probate court. Under the terms of the trust, and under Michigan law, your uncle is likely required to provide you with an annual accounting of what is in the trust. He is also required to file annual tax returns on behalf of the trust, which would show any earnings that the trust had. If he is not giving you information, you should get an attorney involved to press him. There are ways, both in and out of court, to make demands of him to provide information and give you updates. One more thing, and this is pure speculation. Many trusts like yours that require distribution at a certain age (26 in your case), will allow the trustee to distribute earlier in certain circumstances. Feel free to call me and I will be glad to analyze the trust for you.
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