Legal Question in Wills and Trusts in Montana
capital gains
My Mother pasted away over a year ago. My half-sister was the trustee. Final settlement of the estate was contingent on stocks. A good portion of this money was withdrawn prior to the time that encompasses the final settlement. The capital gains report was submitted on my tax return however this final settlement was not received by me. The trustee had taken her commission as well as her portion of the capital gains which was 50%. The other 50% was to be divided better my brother and me. The trustee refuses go show any documents or transactions. Yearly documents have never been sent to me. The trustee started first withdrawals in 1992 through 2007. There has never been an accounting for this.
It is known that trustees personal medical bills were past from the estate, cars, boats, lake property, vacations, trusts for trustees grandchildren, music lessons, etc. were paid from the estate. To sum it all up the Trustee withdrew her 50% in 1999 as well as dividends, capital gains, leaving Mother's care and expenses to my brother and me, as well as taking an additional 50% of the remaining funds.
1 Answer from Attorneys
Re: capital gains
The situation you describe is troubling.
The trustee, who in this case was also a beneficiary, should have provided information (including documents)to you when asked. Her failure to do so is very likely a breach of her duties as trustee, as is the failure to provide an accounting.
You should contact an attorney with experience in trust and estate litigation.
Give my office a call if you want to discuss further.
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