Grandma died last July. Brother was Successor Trustee. Only asset was home. Trust calls for liquidating assets and 25% to me 25% to my kids. Provided no mechanism for removal of Trustee. Since her death brother has done nothing meaningful (aside from collect what he felt were valuables from the home). I am from Montana and am named as the next successor trustee.
I contacted an atty in Dec when NOD was filled on the house to draft a letter explaining brothers duties as trustee and giving him option of resigning. He spent 5k retaining an attorney and assured me it was just an oversight and he would handle things. He never contacted the lender of the 75k reverse mtg. Never listed the house for sale, never conducted an appraisal/inventory (just took what he wanted I guess). On May 10th a neighbor called a family member in IL and got word to me that there was a sale date on the door for the 28th of May.
Long story short I drove out, found a hard money loan to save home from auction the week of the sale as brother had not done more than fax a few pages out of the trust to lender.
Attys want 5-10k cash or '1/3 of the recovered assets' and insist on representing me and my kids interest or no deal. I have no cash (walked out on job to come down here and handle this) I have asked for an acocunting/inventory of assets and brother refuses. I asked after getting the 30 day extension on the sale date if he would het a bank loan (he has the equity/credit to pay off the 75k and save the trust 15k upfront costs and 12 months of loan servicing at 12% for another 18k). He says this hard money loan was easier and refused I have had realestate agents out to the house (I am currently squatting at the vacant home of grandma) he wont call back to meet with them or the estate sale people... I dont have 30 days (for proper notice before a hearing) I found a petition for removal of a trustee from santa clara county oinline. And am trying to figure out how(what blank form?) to ask for Ex Parte hearing. I need to get this done so I can sell the 50 years worth of collectables/antiques replace the carpet in the one room and list the place.
I'm thinking a sale date and not listing the home in a year and costing the trust upwards of 35k to refinance a loan that could have been extended by faxing in a copy of the trust a year ago would constitute prima facie evidince of his inability/unwillingness to serve as trustee? Or should I just go home and hope it costs me and the kids less to let him screw everything up again than for a lawyer?
there was also a checking account thats apparently still open with an unknown $$ in it. House appraised for 480 if thats relevant...
I contacted an atty in Dec when NOD was filled on the house to draft a letter explaining brothers duties as trustee and giving him option of resigning. He spent 5k retaining an attorney and assured me it was just an oversight and he would handle things. He never contacted the lender of the 75k reverse mtg. Never listed the house for sale, never conducted an appraisal/inventory (just took what he wanted I guess). On May 10th a neighbor called a family member in IL and got word to me that there was a sale date on the door for the 28th of May.
Long story short I drove out, found a hard money loan to save home from auction the week of the sale as brother had not done more than fax a few pages out of the trust to lender.
Attys want 5-10k cash or '1/3 of the recovered assets' and insist on representing me and my kids interest or no deal. I have no cash (walked out on job to come down here and handle this) I have asked for an acocunting/inventory of assets and brother refuses. I asked after getting the 30 day extension on the sale date if he would het a bank loan (he has the equity/credit to pay off the 75k and save the trust 15k upfront costs and 12 months of loan servicing at 12% for another 18k). He says this hard money loan was easier and refused I have had realestate agents out to the house (I am currently squatting at the vacant home of grandma) he wont call back to meet with them or the estate sale people... I dont have 30 days (for proper notice before a hearing) I found a petition for removal of a trustee from santa clara county oinline. And am trying to figure out how(what blank form?) to ask for Ex Parte hearing. I need to get this done so I can sell the 50 years worth of collectables/antiques replace the carpet in the one room and list the place.
I'm thinking a sale date and not listing the home in a year and costing the trust upwards of 35k to refinance a loan that could have been extended by faxing in a copy of the trust a year ago would constitute prima facie evidince of his inability/unwillingness to serve as trustee? Or should I just go home and hope it costs me and the kids less to let him screw everything up again than for a lawyer?
there was also a checking account thats apparently still open with an unknown $$ in it. House appraised for 480 if thats relevant...
