Trusts & Estates Law/Trust

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Question
My aunt passed away 2 weeks ago.  I received a copy of her revokable trust where she listed me as a beneficiary to receive $10,000.  The estate includes her home, a business with property, and several investments. She left everything to her two kids 50/50, except the money she left me and my sister.

In the trust, she said the home cannot be sold and her boyfriend can live in the home for one year. My aunt also owned a business with this person also, which will be sold.

I ti s unclear from the trust when the disbursements will happen.  It appears that maybe there is two shares?  One that is set aside to pay for all the home expenses while her boyfriend is living there. And one to pay the other disbursements?  Again, not very sure due to the wording of the trust.

My question is: Are all the disbirsments held up until the one year is over and the house and business are sold?  Or can the $10,000 be paid out before that?  And how long does it take to receive such a disbursment?  The trustee is not very helpful with any of this info, and this is the first time I have ever gone through this process

Answer
Dear Chad

It is not possible to comment on the issues raised by you unless one goes through the Trust document. Being a beneficiary, you have a right to get copy of the document. Ask for a copy from the trustee and consult a lawyer.

In normal course, unless specified otherwise,  you should be paid off as the Trust comes in to force, from the fund available to the Trustee. Your payment is not linked to the Estate.

Hope that helps

Dr Garain  

Trusts & Estates Law

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