AboutAlexander J. Hay Expertise I can answer questions on trusts, wills, and specifically the use of Offshore Trusts and Companies in combination with Domestic entities to help with estate planning, tax minimization and asset protection.
Experience I am a U.S. attorney with offices in the United States and Belize. I have experience helping to protect assets, reduce taxes, and improve investment performance by utilizing global investment techniques.
Education/Credentials Harvard University, A.B. degree; University of Houston Law Center, J.D. Degree; Fulbright Scholar
Expert: Alexander J. Hay Date: 4/19/2008 Subject: revocable trust
Question My Mom has Alzheimer's and lives with my sister who is the trustee of the
revocable Trust which names my brother and I and our sons as beneficiaries.
(We are also alternate trustees in case my sister cannot serve). My sister will
not give my brother and I information about the financial state of the trust
and this is causing family problems. Mom has been living with our sister for
two years and her condition is deteriorating, we are concerned for our Mom
and also that our sister who has a history of financial irresponsibility will use
the trust as a personal resource. We do not wish to challenge the trust, only
know what is going on. We are worried that if something were to happen to
our sister, we would not know where any of Mom's money is. To complicate
this situation, our sister is gay and her partner is openly disparaging about
my brother and I, we have been banned from the house. All Mom's paperwork
etc is at our sister's. Is there anything we can do to encourage transparency
and dissipate this dreadful cloud hanging over the family.
Answer As you pointed out this is a very complicated matter. If your sister was and is financially irresponsible then it was very unwise to have her appointed as Trustee. If she refuses to comply with the terms of the Trust, then you may need to obtain an attorney to file a motion to have her removed.
