trustees

Discussion in 'Power of Attorney & Living Wills' started by ssousa, Jan 24, 2012.

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  1. ssousa

    ssousa New Member

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    I am a trustee in a trust with two other individuals one of which passed away. The trust holds an insurance policy that is to be distributed equally between the surviving trustees. In order for the insurance company to release the funds both trustees must sign the petition or claim forms on behave of the trust. Is there any case law or laws that will allow the insurance company to divide the life insurance proceed between the two surviving trustees since the trustees do not get along. the insurance company wants to issue the check to the trust, can it be made to issue it equally to the trustees?
     
  2. army judge

    army judge Super Moderator

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    Case law has no bearing on a trust, other than to allow for the establishment and distribution of the assets, according to the provisions of the trust.

    What's so hard about being civil in a court room or an attorney's office to sign a form and receive a check???

    Nothing, if you want to get paid.

    You could retain an attorney to represent you.

    The attorney could effectively sign on your behalf (or whichever party can't comport themselves).

    Call a few and see what they would charge for this service.

    I'm guessing you could find one willing to stand in for you (with your power of attorney) for $4,000 upwards!

    Or, do it yourself.
     
  3. disagreeable

    disagreeable New Member

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    You cannot change the beneficiary(ies) after death. If the remaining trustees were beneficiaries, it will pay to them. If the trust was the beneficiary, it will pay to it.
     
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