Trust issues in CA. Haven't read any of the laws

[MadScientist]

The longer it goes on the more confused I get.

I’d listen to Grendel but there’s another house forsale. That sells you get 50% of the profit. Cut a check for 150k to sis and you own the house and not the trust.

I read the securities not being in the trust NOW as they never were but who knows at this point.

 

[Grendel]

I read the securities not being in the trust NOW as they never were but who knows at this point.

That cannot be.

He said the wills were non-specific, dumping all assets into the trust and a 50% split. I paraphrased.

I agree with your sleuthing, that agrees with mine

 

[BUCKLAND]

can i get $50k for a mini excavator?

Um, you want a shovel and wheel barrow, double that for a mini and trailer.

 

[M92PV4U]

My ex family, and keep in mind thats her life choices not mine.

Illinois state police website is where I found the CM back 10/15 years ago, she holds a grudge, the guy was a meth addict.

Could link to that site maybe.

Cant find him on the Illinois state website but this is him from a Google search.

View attachment 561200

Holy shit

 

[Ranchtruck]

That cannot be.

He said the wills were non-specific, dumping all assets into the trust and a 50% split. I paraphrased.

I agree with your sleuthing, that agrees with mine

I think she's trying to pour over the securities into the trust as directed by the will. Then the trust can either use or distribute them.

Then she wants her half out asap and dissolve the trust so she doesn't have to deal with PAE ever again. Fastest route is sell everything split cash and be done.

What PAE isn't understanding is he needs to buy the house he lives in. But that it should be straightforward if the cash from the securities is also in the trust. Get the house assessed, take 50% of the value of that and deduct that from his half of the securities and that goes to his sister to buy her out of the house. Sister gets half the value of the complete trust in cash, PAE gets half the value of the complete trust in the form of a house and a smaller amount of cash.

 

[Grendel]

I think I've said that about the house a few times



PAE says she took the securities OUT of the trust. That's illegal unless PAE got half.

 

[Grendel]

No, if I said that I was mistaken or ?

What I said was she petitioned the court to put the securities into the trust so she could access them, sell them and fix the properties.

But she has already listed the SoCal LA property 650K or there abouts.

Put them into the trust so she could access them? I think you're confused. According to what you stated, the wills rolled into the trust and there was no other governing documents. Why is she petitioning the court for something that should already be in the trust and under her control?

The will should have done that.
That said, you're still in the clear on your house. She sells the LA property for 650K, less about 10% for sale fees, half is yours. Use that 291K or so to buy out her half of the house and pocket 141K.

Next?

 

[trampas]

However the fuck "pour over wills" effect this situation... why was that mentioned a few times? Does it have any significance at all, any bearing whatsoever? I know jack diddly on trusts and wills.

 

[Provience]

No, if I said that I was mistaken or ?

What I said was she petitioned the court to put the securities into the trust so she could access them, sell them and fix the properties.

But she has already listed the SoCal LA property 650K or there abouts.

So when that house sells, take your half and move the fuck out to wherever you would have gone with the gofundme request

 

[rockyota83]

Um, you want a shovel and wheel barrow, double that for a mini and trailer.

i dont need a trailer and i dont need a brand new mini excavator, id be more than happy with what 50k for a used machine gets you

no need to be greedy

 

[trampas]

how exactly would I go about taking my half

A trust attorney would know.

 

[bgaidan]

Post the fucking trust with names redacted or STFU.

 

[MadScientist]

LOL take my half ?

I realise you havent seen the trust and I have read it several times and still dont understand it but, how exactly would I go about taking my half when there has been no trust distribution and no I'm not a trustee ?

Talk to an attorney for help. There may have been no distribution at this point. It doesn’t have to be distributed as long as it is still in the trust. Much like this thread your sis is prob done and wants her payout. Hopefully that’s s all and you will get yours. If not the attorney will figure it out and you have legal action.

Cliffs: basically what everyone has said spelled differently for you.

 

[trampas]

She can run out the clock as there is no limit on how long distribution can take.

Me thinks you gotta get a maddog lawyer who only speaks in sticks n stones who has no forked tongue bullshit.

You can't, you just fkg can't, expect yourself or any of us to interpret the oddities of your parents specific trust, without verbatim text. And even then... we're not lawyers.

If she's ballin' with semantics because she has all the authority, then grendel is right. Fight now, or forever lose your ass. Maybe even lose your ass in court proceedings after the fact. Don't go there, be proactive RIGHT NOW.

 

[subybaja]

If she's ballin' with semantics because she has all the authority, then grendel is right. Fight now, or forever lose your ass. Maybe even lose your ass in court proceedings after the fact. Don't go there, be proactive RIGHT NOW.

I'd sure be interested in her side of this story. I haven't read a single thing from PAE (except that she has poor taste in men) to support his "She's trying to screw me!" argument.

She wants to spend the securities on fixing up the properties to sell. OK, and? Are you assuming that she's actually going to snort the money?

It's perfectly reasonable to want to liquidate and split the whole thing, and be done. PAE, other than "I like my house!", why are you flipping out? I mean, give specific examples how she is mishandling this.

I wish my folks would leave me a million bucks to split w my sister...

 

[Mr Stubs]

Why is all of this so hard?

It’s like someone arguing with you when you are trying to give them money.

 

[rockyota83]

I wish my folks would leave me a million bucks to split w my sister...

seriously my parents can barely afford to pay their rent, have no retirement, im gonna have to build them a granny unit to live in here in the next couple years

 

[bgaidan]

Things I've read on line from attorneys websites to sell a property there must be signoff from two trustees.

Oops theres only one.

If only there were a way to prove what you're saying.

 

[Jackie Treehorn]

Has anyone suggested getting a lawyer yet?

 

[Provience]

okay, so take it when it is given to you when the funds settle from the house sale in LA

The trust attorney I had said I cant take anything until its given

 

[trampas]

It's perfectly reasonable to want to liquidate and split the whole thing, and be done. PAE, other than "I like my house!", why are you flipping out?

From scanning the thread (didn't read everything) i'd say the only consistency i've seen re; him flipping out is, the exigency of being evicted.

As i scanned the thread i don't recall him saying once that the home he lives in is actually owned by his deceased father, the trustee, or whomever. Was that mentioned and i missed it?

 

[M92PV4U]

You guys are going to have to give him atleast one day, or 20hrs before he can take most of the advice given...

I doubt that he'll post any of the paperwork that he has on the trust here.

 

[trampas]

the home I live in is actually owned by my deceased father, the trustee

Ok, i didn't know. Was it unscathed by the concow massacre of homes?

 

[Gatorgrizz27]

I had to deal with something similar last year when my dad got sick and passed.

First of all, stop with the pity party of “I’m a disabled vet who is being, triggered, bullied, by my hostile sister and it’s giving me a bunch of anxiety and feeling toxic.” Grown men don’t talk like that. She may be the biggest bitch on the planet and trying to screw you over, but its your job to take charge and handle things.

It sounds like the house became property of the trust when your dad passed, and if there is no clause that you’re allowed to live there rent free until you die, you should have started paying fair market value rent at that point, regardless of what he may have told you. This might be the easy solution to staying where you are for the least amount of $.

You’re basically tying up what could be an asset or cash for another investment for her. You could also take your half of the other $ and buy the house, assuming it’s enough $. I don’t know if she could just refuse to sell it to you out of spite, or if it’s even the best decision financially. Why do you need to live in a $650k house in an area with a high cost of living if you’re disabled and don’t work? Go live in a decent $100k trailer in the Ozarks.

When you mention changes being made on the past couple of years, it sounds like she might have tried to get him to amend the trust before he died, possibly under duress or without having a clear state of mind. If she did and you can’t prove he was mentally incapacitated prior to that point, you might be screwed.

It‘s also odd to me, though not impossible, that your son would have been named in his original trust. Generally it’s direct descendants and up to you to give to his grandchildren, etc, unless he wanted you to be skipped but pass it on to his grandson (who would require his own trustee). I suppose if his needs require continued expensive care he might not have wanted it all to come out of your half of the $, but it’s not the norm.

You need an attorney TOMORROW and then likely somebody to interact with your attorney on your behalf.

 

[Gatorgrizz27]

Smoke damage but yes mostly unscathed, it's been 24 years being scared to death every time a fire comes thru or around, no insurance was ever bought and I never made enough to buy both insurance and fuel and food for the wife and kids.

Who’s fault is that if you owned the busines?

 

[rockota]

A trust attorney would know.

 

[Gatorgrizz27]

I've always had a fear since my days of living in my truck when living in LA.


the home I live in is actually owned by my deceased father, the trustee

I don’t think that’s possible, read my longer post.

 

[Santa]

Meaning when my father passed the trustee my sister became the owner.

So she was given the property in the trust?

 

[MadScientist]

Meaning when my father passed the trustee my sister became the owner.

Get your head around the fact she is not the owner. Just an employee of the trust with decision making powers.

 

[Provience]

So she was given the property in the trust?

trust got the property, she has control over the trust.

trust still owes 50/50 split on distribution, doesn't matter if she spends her half on a dog rescue and that is the "sole" reason she wants to liquidate.