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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