Must all beneficiaries to a trust wait for their disbursements if one beneficiaries has asked for an accounting?
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Must all beneficiaries to a trust wait for their disbursements if one beneficiaries has asked for an accounting?
My grandfather passed 7 months ago; he had a revokable trust. Then 1 of the 9 beneficiaries asked for a full accounting ot the trust. The trustees are not acknowledging his request but because of it they will not disperse the trust. I feel like my portion is being held hostage because they are at a stalemate. Can they disperse the money? Can the beneficiary who is asking for the full accounting still fight this after the trust has been dispersed or are we all just going to have to go years without seeing any money? There is 1.5 million is in the trust.
Asked on July 4, 2012 under Estate Planning, Indiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I am so sorry for your loss. Well first off generally the trustees can not "ignore" requests made and if they do so and disburse the funds and the beneficiary brings then to court to demand it, if there is a contest to the disbursements it can be an issue. So they might want to speak with their lawyer and try and come up with a compromise to a situation to avoid legal fees taking up all the funds. Good luck.
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