Its been 2yrs and trustee has not given everybody their share, what can we do to speed up the process and if there is property that is not in the will, does it go to the one that got the house?
Your question has multiple layers to it. The starting point is the trust document itself and the provisions included in it. Any property that is titled in the trust name is distributed pursuant to the terms of the trust. If the Trustee has not distributed all of the trust property, it may be by design. However, if everything was left outright to the beneficiaries then 2 years seems like a long time. In this case, a court can compel the Trustee to make the distributions provided in the trust. Note that involving a court is one of the primary things avoided by using a trust instrument. You should keep it that way at all costs.
Any property that was not titled in the trust name is handled by either the Will or by state law. The Will names an Executor/Administrator and not a Trustee. If there are assets not held by the trust, you will need to probate the will, have the executor appointed, and then distribute the property according to the terms of the will.
If no will existed, any property not owned by the trust is distributed according to New Mexico law. If the deceased was married, the spouse inherits all of the community property and 1/4 of the separate property with the other 3/4 going equally to the children. If the deceased was not married, then the children inherit everything equally.
Keep in mind that there may be other assets that are not controlled by either the will or trust. Things like life insurance, annuities, and retirement plans have a beneficiary named on them. So long as the beneficiary is alive, then the terms of the will/trust have absolutely NOTHING to do with how these things are distributed.
You need to have all of the documents reviewed. There are too many unknowns to get a good answer. If you need to probate the will, you as a child are an "interested" party and can apply to the probate court to initiate probate proceedings. You have already waited more than 2 years so I would contact an attorney as soon as possible.
Hope this helps.
The information provided herein is not, nor is it intended to be, legal advice. It is for informational purposes only. No attorney-client relationship has been created and we have no obligations to you or your case.
A trustee can NOT execute (meaning sign) a Will, but you CAN file a petition w the probate court asking that the trustee show up and "account" for the money and what the plan is for distributing funds to the beneficiaries named in the trust.
It's not that complicated to file for a trustee's accounting, but the longer you wait the greater the chance the money will be gone. Go see a good trust lawyer for advice and follow it.
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