What to do if my dad passed away 2 years ago and I am the trustee of his estate?
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What to do if my dad passed away 2 years ago and I am the trustee of his estate?
He had a revocable living trust. After the house sold and the CPA determined there would be no taxes owed, I mailed beneficiary checks to each beneficiary. My one sibling (after 5 weeks of receiving her check via certified mail) has not cashed it. I sent her an email asking when she would be cashing since I wanted to close out the account before year’s end. She said she’s been too busy and will get to it when she can. This sibling has been a major problem in the past, so what if she doesn’t cash the check? Should I just close out the account now and send her a cashier’s check or give her more time? Does it matter when I close out the trust account?
Asked on December 28, 2012 under Estate Planning, Nevada
Answers:
Catherine Blackburn / Blackburn Law Firm
Answered 11 years ago | Contributor
You have discretion to distribute the proceeds of your father's trust in multiple ways. I suggest you advise your sibling that the check is no longer good and you will be sending her a money order (or cashier's check) and closing the trust account. Advise that you will have no further responsibility for distributing the trust proceeds and she will be responsible if she does not negotiate the money order.
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