This is not stated in the trust, and I know that the creators of the trust neither knew of such a provision nor intended it to be exercised. This scenario involves executor mismanagement.
If the Trustee violates their fiduciary duty, they can be sued civilly and can be considered a form of embezzlement. Even if the parties disagreed as to how much money should be kept for future tax liability, the trustees could distribute at least $1 million in available liquid assets, and yet declined to do so. By failing to distribute trust assets, the trustee can conceal the mismanagement or wrongful taking of trust assets. So with that said, what is an average time to distribute trust assets?The average time to distribute trust assets ranges from 12 … A trustee is a party who administers the assets of a trust and distributes them to beneficiaries in compliance with terms established by the trust grantor. Trustee will not distribute funds to beneficiaries. As a beneficiary, if the trustee is not distributing your inheritance and not communicating with you as to why, it is essential that you take immediate action.
Mom and Dad have both passed. The successor trustee refuses and says he has a legal right to retain the assets for a certain number of years, I think 15 or 20 years. If the trustee refuses to perform his obligations with respect to the trust, a beneficiary might be able to take advantage of several possible remedies to ensure fair treatment by the trustee. How Long Does a Trustee Have to Distribute Assets. However, an executor who refuses to distribute assets to heirs of the estate is an entirely different story. When the executor mismanages the estate, you have options. You would expect an executor to treat their duties with care and respect.
If you’ve also made a request for information about the trust (for example, what assets were in the trust when the settlor died, how trust money has been spent, what assets are left in the trust, etcetera) and the trustee will not give you the information and will not make … One of the beneficiaries is asking for a full accounting of the trust. The trustee of a trust is required to act as a legal fiduciary on behalf of trust beneficiaries. They did not petition the probate court for instructions until six months later, nor did they distribute any property until compelled by a court order two years after the wife’s death. Your loved one trusted the executor to do so.
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