advice1234
New Member
I am a beneficiary of a trust. The trustee (also executor of will and not an attorney) is demanding all beneficiaries MUST sign a "Trustee Release of Liability" agreement or the trust cannot and will not be distributed.
There has been some questionable activities in the trust and it's handling but the legal costs (20K+) would far outweigh what might be missing from it (5-10K). Hey, he secretly put his mother in a nursing home on Mother's Day!!
The release (written by his atty) revokes all legal rights and recourse against the trustee. It also specifies that I agree with the final accounting. While I may agree with the final accounting, I don't want to sign my legal rights away if I find later that other assets were taken and I have no recourse.
I though the process is, probate would review the final accounting and clear it. Then if there are no objections, the trustee must distribute the trust and Probate releases him of his trustee duties.
So, Is it absolutely a mandatory requirement for a beneficiary to have to sign a "Trustee Release Agreement" before the trust can be distributed???
thanks
There has been some questionable activities in the trust and it's handling but the legal costs (20K+) would far outweigh what might be missing from it (5-10K). Hey, he secretly put his mother in a nursing home on Mother's Day!!
The release (written by his atty) revokes all legal rights and recourse against the trustee. It also specifies that I agree with the final accounting. While I may agree with the final accounting, I don't want to sign my legal rights away if I find later that other assets were taken and I have no recourse.
I though the process is, probate would review the final accounting and clear it. Then if there are no objections, the trustee must distribute the trust and Probate releases him of his trustee duties.
So, Is it absolutely a mandatory requirement for a beneficiary to have to sign a "Trustee Release Agreement" before the trust can be distributed???
thanks
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