Settling My Sister's Trust/Estate

[badatmath]

Sadly I am the owner of a JHLTC policy. . . I go back and forth about cancelling it. But I've heard crappy stories about other companies too. If I hadn't already got it I would not get it now.

 

[audreyh1]

Sister paid JHLTC policy premiums for decades. She was in in-home hospice care 6/5 through 12/10, and assisted living 11/10 through 12/10. Medicare paid all the hospice expenses, so no claim there but JH has conceded hospice counts toward the policy 90 day qualification period. She was entitled to be reimbursed $100/day for her time in assisted living which cost approximately $8600. I’ll spare you the details, but they’ve yet to pay anything. I’m on my last campaign to get them to pay, I am absolutely convinced their MO is to stall until the beneficiary gives up. They ask for a document, tell you to wait 15 business days, then ask for something else, wait, over and over. They’ve yet to contact me once, I have to contact them. Every time I call I get a different CS Rep and have to start from square one…

That’s just disgusting, yet sounds typical.

 

[audreyh1]

I think they owe $3000, but I've given up on that as two reps said I'm entitled to $1,000 - not sure it's worth it. Sister was in TX, I'm in NC, JH is in MA. Bottom line, she paid for decades only to be stiffed most likely. I wasn't considering LTC myself, but this experience tells me I'll die broke before buying LTC, especially from John Hancock.

The amusing side note. After stonewalling me for months, about two weeks ago they sent me a customer survey, which I ignored since my claim is still active. A few days ago they sent me a reminder that they'd like me to complete the survey...

Well here is your chance to give them terrible marks and really vent your spleen.

 

[Koolau]

I think they owe $3000, but I've given up on that as two reps said I'm entitled to $1,000 - not sure it's worth it. Sister was in TX, I'm in NC, JH is in MA. Bottom line, she paid for decades only to be stiffed most likely. I wasn't considering LTC myself, but this experience tells me I'll die broke before buying LTC, especially from John Hancock.

The amusing side note. After stonewalling me for months, about two weeks ago they sent me a customer survey, which I ignored since my claim is still active. A few days ago they sent me a reminder that they'd like me to complete the survey...

No point filling out their silly survey since they don't list any satisfaction level LESS than 1!

 

[More Cowbell]

And finally it's disappointing all the vultures that are now sending additional junk mail to me using her name and my address. Disgraceful, but that's how it works now days...

For marketing mail, another option is to register a DMA Deceased Do Not Contact (DDNC) form through DMAchoice. Cost $6. I just did this in March because recently there’s been mail addressed to DF who died over 10 years ago.

Deceased Do Not Contact Registration

 

[2018]

I'm curious if anyone has used an Estate Settlement service. I googled it and it seems this could be cost worthy if the estate has multiple assets and or lots of heirs, or any kind of complexity. There seems to be a lot of companies that offer this service, with fees ranging from mild to ??

 

[Midpack]

I'm curious if anyone has used an Estate Settlement service. I googled it and it seems this could be cost worthy if the estate has multiple assets and or lots of heirs, or any kind of complexity. There seems to be a lot of companies that offer this service, with fees ranging from mild to ??

There is no "estate" in my case, but I looked at Corporate Trustees.They are pretty costly, and they don't do everything. They handle the big stuff with financial institutions but that leaves lots of small details for you to handle. I was surprised at all the little things I've had to attend to e.g. making disposition of all the contents of her house, pets, paying routine expenses (mortgage, HOA, insurance, utilities, internet, phone, TV, credit cards etc.).

Though a Trust avoids probate which adds time and costs, settling a Trust is by no means easy.

Corporate Trustee Responsibilities​

Management of Trust Assets: Oversees the investment and management of the trust's assets.

• Compliance: Ensures that all legal and financial obligations are met, including tax filings and regulatory requirements.
• Record Keeping: Maintains accurate records of all transactions and communications related to the trust.
• Fiduciary Duties: Acts in the best interest of the beneficiaries, adhering to fiduciary standards.

Successor Trustee Responsibilities​

Executing Trust Terms: Carries out the specific instructions laid out in the trust document.

• Distributing Assets: Distributes the trust assets to beneficiaries as specified by the grantor.
• Communication: Notifies beneficiaries about the trust's status and any relevant changes.
• Administrative Tasks: Handles any necessary administrative duties, such as paying debts or taxes related to the trust.

 

[SecondCor521]

I'm curious if anyone has used an Estate Settlement service. I googled it and it seems this could be cost worthy if the estate has multiple assets and or lots of heirs, or any kind of complexity. There seems to be a lot of companies that offer this service, with fees ranging from mild to ??

I haven't, and I wouldn't. I'm in the middle of estate administration now, and most of it is little errands that don't require much particular skill other than organization, detail, and follow up - I can easily DIY. Also, the estate I'm dealing with is complicated enough that I wouldn't trust anyone else to get it right or catch errors. But I'm also retired early and have time to deal with the paperwork.