marlene9625
New Member
The state or country I am talking about is: NJ
My father died on 09/18/04, leaving a trust in my sister & her husbands name with me as beneficiary. I have never had a close relationship with these people, and it has been a nightmare. I am on Social Security Disability since 2002 due to having multiple sclerosis since 1979. According to the will, I am to receive interest/dividends quarterly and the principal may be encroached upon only under the abasolute discretion of the trustees. The money was deposited initially on 10/27/04 at Bank of America. On 11/29/04, some of the money was transferred to another financial advisor. I have not received any interest/dividend payments as yet. A call to the financial advisor resulted in him stating that a check would be issued the next day, 3/14/05. I have not received it as yet, and I questio why I had to make a phone call to receive the money. Isn't interest/dividend money isuued automatically by the financial institution? I have been requesting information regarding the B. of A. account since January, with no results. My phone calls requesting information have resulted in me being insulted, yelled at, screamed at or hung up on. When I request the information, which is required by Social Services and the Dept. of Aging, the subject is changed and diverted to repeated slandering my mother, with whom I am close, and who has been a great help to me. The trustees state that they want to test how I manage the interest/dividends. They refuse to encroach upon the principal, despite my requests to have help paying for my prescriptions, Medigap insurance, and dental care, since I have lost Medicaid. This week, after another round of fighting and refusal to disclose info about the B. of A. account, they have refused to answer my phone calls. I should mention that their sons will receive what is left of the principal upon my death. Do I have just cause to have the trustees removed/replaced, and how would I go about doing this?
My father died on 09/18/04, leaving a trust in my sister & her husbands name with me as beneficiary. I have never had a close relationship with these people, and it has been a nightmare. I am on Social Security Disability since 2002 due to having multiple sclerosis since 1979. According to the will, I am to receive interest/dividends quarterly and the principal may be encroached upon only under the abasolute discretion of the trustees. The money was deposited initially on 10/27/04 at Bank of America. On 11/29/04, some of the money was transferred to another financial advisor. I have not received any interest/dividend payments as yet. A call to the financial advisor resulted in him stating that a check would be issued the next day, 3/14/05. I have not received it as yet, and I questio why I had to make a phone call to receive the money. Isn't interest/dividend money isuued automatically by the financial institution? I have been requesting information regarding the B. of A. account since January, with no results. My phone calls requesting information have resulted in me being insulted, yelled at, screamed at or hung up on. When I request the information, which is required by Social Services and the Dept. of Aging, the subject is changed and diverted to repeated slandering my mother, with whom I am close, and who has been a great help to me. The trustees state that they want to test how I manage the interest/dividends. They refuse to encroach upon the principal, despite my requests to have help paying for my prescriptions, Medigap insurance, and dental care, since I have lost Medicaid. This week, after another round of fighting and refusal to disclose info about the B. of A. account, they have refused to answer my phone calls. I should mention that their sons will receive what is left of the principal upon my death. Do I have just cause to have the trustees removed/replaced, and how would I go about doing this?