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Old 09-11-2021, 06:58 PM   #101
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Originally Posted by creekstone View Post
As I understand it, the assets to be distributed are:
$330k House
$380k Cash & Mutual Funds
$1m IRA

You stated the IRA had a specified beneficiary split. What is it exactly?

The cash and mutual funds don't have beneficiary designations?

And lastly, who is currently paying for the house utilities and/or ordinary repairs?
IRA is 50/50
The cash and MF are in the trust.
The ď trust ď is paying the utilities.
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Old 09-11-2021, 07:01 PM   #102
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I can see the $380K dwindling the longer this thing drags on.
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Old 09-11-2021, 07:02 PM   #103
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Originally Posted by silvor View Post
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The “ trust “ is paying the utilities.
Then, IMO, the one who ends up with the house should have that amount deducted from any cash he may otherwise get, because it is a cost of preserving the asset.
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Old 09-11-2021, 07:03 PM   #104
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He is playing the game for sure and you should continue playing full square and legal like you are doing with counsel.

The children are asshats, prodigy of your brother no doubt. Rock on!
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Old 09-11-2021, 08:22 PM   #105
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Originally Posted by pb4uski View Post
...Tempting to evict him and his son with a 12 gauge shotgun ...
I have a black rifle and a .45ACP Glock. Where is this place, anyway?
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Old 09-11-2021, 08:55 PM   #106
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I would not assume the worst. Basically the notice says he should refuse if he doesn't want the house, remaining silent until the end also counts as acceptance, especially since he essentially moved in.
I am guessing that is what the lawyer is thinking. Continued occupation seems like acceptance of the proposed asset division.
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Old 09-11-2021, 10:08 PM   #107
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Good luck on your situation. Seems like you have all the legal bases on your side, the trust named you as trustee, you have good estate lawyer advise on handling your brother, you are giving your brother notice of what you intend to do for distributions all allowed under terms of the trust. I would guess it is just a matter of grinding it out. If your brother tries to come after you legally later, my guess is he loses and wastes his lawyer money.
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Old 09-12-2021, 08:35 AM   #108
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... If your brother tries to come after you legally later, my guess is he loses and wastes his lawyer money.
Interesting point here. If the OP distributes 100% of the trust assets, then gets sued, he will end up paying 100% of his legal costs.

I've been in business situations where some amount of money is escrowed in one of the lawyers' trust accounts for a fixed period of time to ensure that all post-closing obligations are met. I'll bet the OP's attorney could set something like this up. Maybe escrow $100K for a year? That might put the brother on good behavior.

Quote:
Originally Posted by RetMD21 View Post
... Continued occupation seems like acceptance of the proposed asset division.
Remember, the occupant is the brother's son. Legally a separate person. So I don't think the son's continuing occupation is relevant to the trust distribution issues, except that if the thing ends up in court the brother's permitting his son to trespass may help the OP's case.
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Old 09-12-2021, 10:42 AM   #109
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I am wondering just why the brother (and his kids) are being such a pain about the whole thing. He gets a half and half split with brother under trust terms. Nothing unfair or unbalanced about it. Maybe the only thing he has left to really resent is his brother was named first in line to administer the trust before him, so he is making things as hard to administer as he can for dear brother. Juvenile behavior in my opinion, and really just hurts himself (as well as brother) in the end. But good luck to trustee responsible brother in dealing with it. Hope it all resolves and everyone ends up satisfied, if not happy.
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Old 09-12-2021, 11:06 AM   #110
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I've been following this thread with interest since the beginning and may have missed a few posts, so bear with me. The first post stated that the brother's son and his wife moved into the house. It did not say the brother lived there. Many posters have assumed the brother lives there too, but that is not clear.

Can the OP or someone clarify? Does the brother, nephew, and nephew's wife live there, or just the nephew and nephew's wife? If the latter, why is this not a trespass situation? If it were a third cousin once removed, someone the OP didn't know but who is a relative, wouldn't you just call the police against the squatters/trespassers? What makes this any difference?

I realize that if the brother lives there that is a different situation entirely. Thanks in advance for the clarification.
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