I don't understand this, my mother in law passed away a few months ago and there is two executers of the will one from my wife side of the family and one from my father in laws side who passed a few years ago. There were two families brought together from a remarriage.


The will states that all asset's will be combined sold and split between the siblings on both sides.


I do know there was two different trust set up one in each of there names for tax reasons. One of the trust paid for assistant living because the mother in law had dementia. most of that money was used up.


Tonight I asked how much money was in my father in laws trust and all I'm getting is the silent treatment. I just don't understand why they wont disclose this to me or my wife is this normal?


there is quite a bit of rental property and few commercial buildings and cash in the trust account. Am I not entitled to know these figures?


very strange.

You, as a Brother-In-Law likely have no entitlement to know.

Your wife, an actual sibling, likely has more standing to know amounts, etc.

However, death / wills / money seems to bring out the worst in some people.

quote:

Tonight I asked how much money was in my father in laws trust and all I'm getting is the silent treatment. I just don't understand why they wont disclose this to me or my wife is this normal?


there is quite a bit of rental property and few commercial buildings and cash in the trust account. Am I not entitled to know these figures?

It is a matter of family dynamics, not a legal issue. These things can become very ugly. I would counsel patience at this point.

I was executor for my mom's estate a few years ago but I don't claim to be an expert. Having said that, I would say that no your wife is not entitled to these figures at this time. The executor(s) is responsible to ensure all outstanding accounts are settled etc... Once the estate is settled, which takes a court decree to finalize, then she should be given an accounting of how things were settled as well as any distributions. This may not be a quick process depending on the estate.

They probably don't want to talk numbers at this time so that you don't form any misconceptions about the value of the estate as it might not resemble the same once the executor is complete with their fiduciary responsibilities.

I has been a few years (~15 or so) since I did this and my memory is a little fuzzy. There is plenty of information out there if you wish to become more familiar with the process.

Yep... Things can get nasty during the settlement. You would be wise to engage your own estate attorney.

quote:

...there is two executors of the will one from my wife side of the family and one from my father in laws side ...

The will states that all asset's will be combined sold and split between the siblings on both sides.


...there was two different trust set up one in each of there names for tax reasons. One of the trust...most of that money was used up.


Tonight I asked how much money was in my father in laws trust and all I'm getting is the silent treatment. ...is this normal?


there is quite a bit of rental property and few commercial buildings and cash in the trust account. Am I not entitled to know these figures?


very strange.

Estates can be pretty complicated and when all of the 'actors' in an estate are family it can be pretty petty as well.

I can't answer your question with any authority, nor can anyone else without having access to the governing documents, the Will(s) and the two trusts. To go to probate the will(s) have to be admitted at court and they are then public, as in everybody can see what's there. State laws may vary but that's the routine. Unless you are named in the will being probated they have no duty to you for anything. It sounds like your wife is named and she has a right to that info from the executors as well as regular accountings. OK so far?

A trust is not run by an executor but by a trustee. The trustee and the executor may be the same person but the duties are different. the trust is controlled and administered under what is written 'within the four corners of the document" as old school lawyers like to say. Everything the trustee must do, may do, must not do and should do are in there, perhaps in detail or perhaps in broad form.
Benefeciaries of the trust are entitled in every state to periodic accountings, and in my lengthy experience this is frequently the center of court action because for some reason private (that is non-professional, for hire trustees) frequently don't bother to learn the specific laws they have to live under.

The benefeciaries of the trust are not necessarily the same as in the estate, and no, the trust is not in the estate. It may pay into it, but then it isn't controlled by the trust anymore but by the will in probate.

So to answer your question, kind of: You have no right to any info unless you are named in that entity. Your wife probably does for the estate. The trust may or may not have her name in it, if she's in there the trustees have to communicate.

Good luck.

quote:

Originally posted by RHINOWSO:
You, as a Brother-In-Law likely have no entitlement to know.

Your wife, an actual sibling, likely has more standing to know amounts, etc.

However, death / wills / money seems to bring out the worst in some people.

^^^^this - in spades!!!

It's too late in your situation but several states allow a Transfer on Death (TOD) instead of a will. It has many advantages. Can apply to all assets and cheaper to have executed.

If the will still has to pass through probate - you/wife can question and contest at that time.

It's not out of the ordinary for executors and trustees to decline information requests from non-beneficiaries.

It's covered above, but I echo the advice to have your wife, assuming she is a beneficiary, make all the requests for information. If your wife is not a beneficiary (maybe she isn't named in the father-in-law's will/trust?) then they should let you know that, when they decline to provide information.

Your state's laws will determine what information a beneficiary can demand from the executor of the will and the trust documents will outline the obligations the trustees may have to provide info to beneficiaries.

It may be that you are conflating things - there are two decedents (mother-in-law and father-in-law) so that would indicate two different wills. You've also mentioned there may be more than one trust involved, and each trust would have been set up with trustees and beneficiaries. Anyway, all four of those documents (2x wills, 2x trusts) presumably are distinct.

Given as you said this was a remarriage/blended family situation, it could well be that the beneficiaries are different across those documents.

I've been a "Personal Representative" twice - both for Michigan estates - and a "Trustee" once - and I can tell you that in MI, while the executor/trustee has responsibilities to beneficiaries to the court, other than to settle the decedent's obligations there are no responsibilities to anyone else. In addition, beneficiaries have privacy rights it would not be wise for an executor/trustee to breach.

quote:

Originally posted by LS1 GTO:

quote:

Originally posted by RHINOWSO:
You, as a Brother-In-Law likely have no entitlement to know.

Your wife, an actual sibling, likely has more standing to know amounts, etc.

However, death / wills / money seems to bring out the worst in some people.

^^^^this - in spades!!!

That statement belongs in the "Truths" thread.

quote:

They probably don't want to talk numbers at this time so that you don't form any misconceptions about the value of the estate as it might not resemble the same once the executor is complete with their fiduciary responsibilities.

Very true.

"Oh just give me a ball park figure"

<Figure given of X dollars>

During the execution of the will, major outstanding debts have to be settled, "owned" rental property was still mortgaged, neglected, damaged, etc, resulting in a major reduction of the figure X previously given.

<People get their panties in a wad because they were salivating at getting 'their' portion of the X amount above, but now it's significantly less>

A will is a public document that goes through probate and is contestable. A trust is a private document that is not contestable. You and your spouse may have no right whatsoever to know what is in the trust or how those assets were to be distributed. The trustee is legally responsible to execute the orders of the trust without discretion unless the trust allows for such.

Thanks for the reply's My wife is 1/7 on the receiving end of this inheritance which since we have been married 33 years, I think I might get 50 cents or something.

for the most part the families get along so I guess that's what has stumped me, I did find out today that my brother who is one of the executers say's he has no idea either what is in my father in laws trust, he claims he has asked the other executer and she wont tell him and that we just half to wait until the attorneys and accountants give us the details. I find this hard to believe but you cant get blood out of a turnip. I just figured that he should have full access to all of it. I certainly don't understand why things need to be so difficult.

One thing for certain when it comes to money and family matters it brings out the worst in people.

a sibling of mine is a financial wizard of sorts, with his own money , he did mom's and grandma's estates.

both were a very very bad experience.

when a third relative asked him to handle an uncles estate, he told them " for 1/3 of the total money of the estate"
thats the only way he would do it again.
and AND !
all parties had to sign the agreement.

no, he did not get the job

quote:

Originally posted by RHINOWSO:
However, death / wills / money seems to bring out the worst in some people.

This in spades.

Not to go into detail, but I have seen some ugly stuff. You never know who will turn into that person.

Hopefully, at least the family member on your side will keep everything honest and do a competent job. Even better if they both are and transparent in the process.
If I were those two people, with the number of people that may be beneficiaries, I'd try to communicate well with everyone to explain the process going forward or better yet, have the attorney handling the estate do that.
An attorney experienced in handling wills, estates and trusts should have dealt with this before and know the best way to handle these things.
State law will determine how this is handled. My wife's father passed away in Florida and the law required an attorney to be involved in that case.
Maybe read up on the state law that has jurisdiction as a starter.

quote:

Originally posted by RogB:
It's too late in your situation but several states allow a Transfer on Death (TOD) instead of a will. It has many advantages. Can apply to all assets and cheaper to have executed.

Is this the same thing like on your 401(k) and bank accounts where you list the beneficiary(ies) on the accounts?

When you list a beneficiary - someone who is to receive the proceeds of an account upon your death, and assuming no trust is involved, what role (if any) does the executor of the will have, assuming the accounts are not mentioned in the will? Do the proceeds go directly to the beneficiary without the executor getting involved?

quote:

Originally posted by XLT:
Thanks for the reply's My wife is 1/7 on the receiving end of this inheritance which since we have been married 33 years, I think I might get 50 cents or something.

Maybe, maybe not. Inheritances are often held separate when dividing up assets, unless the assets have been comingled.

I cannot speak to your specific situation but I know in my families (my dad) it is set up to be very transparent however we (myself and siblings) decided to add language that specifies that spouses are not privy to any info and have no "voice" in any decisions.