Accourding to the will, my Uncle is the trustee of the inheritors, which is my two children. So he is in charge of the account. He is to manage their account and invest or release money when he thinks it maybe for proper and suitable support. In the event of them turning 25, they receive...
Also told this: 1) If a bank account listed you as POD / TOD (payable/transfer on death), then the account is yours and doesn't have to go through the estate process. Go to the bank, show them the death cert, and bingo, the account is yours.
I think your mother had some sort of complex trust...
Think your estate planning is done once you've gone to the trouble of making a will? Think again. All your hard work can be undone with a stroke of a pen when you open a bank, brokerage or retirement account.When the account owner dies, the assets go directly to the beneficiaries named on the...
My mother passed away almost 2 years ago. My Uncle is the executor and trustee for my kids and he lives in another state. We have a “family” attorney, that is very good friends with my Uncle. Two months after my mother passed I received a document from her bank stating I was the sole...