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Where can I find a form receipt for final distribution of a trust's assets by one of the beneficiaries?

Melbourne, FL |

One beneficiary is receiving my mother's home as his distribution. He has obtained a mortgage and will be paying the trust the total difference in the value of his distribution vs. what the other 4 are receiving. There is no probate, but I want him to sign a receipt indicating that he has no more claims and this is his FINAL distribution.

Attorney Answers 1

Posted

You need to have each of the beneficiaries sign a "receipt and release." This is a legal document which states that the beneficiaries received certain assets and are releasing the trustee from responsibility. That would probably be the only way to achieve finality.

In order to fully protect yourself, you should hire a Florida lawyer who is experienced in trust law. This is not a "do it yourself" project.

I'm not a Florida lawyer, and am just answering this on "general principles." This is neither an opinion nor does it create any attorney-client relationship.

Jeffrey L. Crown
Trustlawyer, LLC
Rocky Hill, CT

LEGAL DISCLAIMER Atty. Crown is licensed to practice law in Connecticut with an office in Rocky Hill. His phone number is 860-257-4330 and his email address is jlcrown@trustlawyer.com. This response is not legal advice and does not create an attorney/client relationship. This response is only a form of legal education. It is intended to only provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that if known could significantly change the reply or make the reply unsuitable. Atty. Crown strongly advises the questioner to confer with an attorney in his or her state in order to ensure proper advice is received. By using this site you understand and agree that there is no attorney client relationship or confidentiality between you and the attorney responding. This site should not be used as a substitute for competent legal advice from a licensed attorney that practices in the subject area in your state, who is familiar with your specific facts and all of the circumstances and with whom you have an attorney client relationship. The law changes frequently and varies from state to state. The information and materials provided are general in nature, and may not apply to a specific factual or legal circumstance described in the question or omitted from the question. Circular 230 Disclaimer - Any information in this comment may not be used to eliminate or reduce penalties by the IRS or any other governmental agency.

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Asker

Posted

Thank you for your quick response.

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