you may get some opinions here, but the only way you will get an accurate answer on this is if you take a copy of the trust document to a lawyer

This post was edited by Violet.West on Fri, Nov 14, 14 at 10:55

I completely agree with Violet. You need to talk to a lawyer. It will be worth the cost. There is lots of information on the internet but, IMO, the internet is not the place to get legal advice.

Do you have a copy of the trust document?

And you'll need the will, too. The administrator of the estate is supposed to supply all heirs with copies.

In many areas, the local bar association has a lawyer referral service;
they'll set you up with a participating attorney, & the first 20 minute appointment is $20 (may be more now).
If you decide to have the lawyer handle your problem, the fee is between you & the lawyer.

I wish you the best.

My husband and I formed a revocable trust earlier this year for our assets. We had the option to leave our assets to ANYBODY or ANYTHING we wanted.

I agree - you need to obtain a copy of the trust and the will to find out who the beneficiaries are.

I forgot to add this part. It is my understanding that our revocable trust will DISSOLVE upon our deaths after our assets are distributed according to the terms we outlined in our trust. So once we're gone, our trust is gone, too.

Did your mother own the trust by herself, or is your brother a part-owner of the trust? You need to get a lot more information. What's stopping you?

I wouldn't be too quick to contact an attorney until you get a copy of the trust in your hands.
Did you not receive a copy at her death?
When she died did you get any notice about her will or trust?

"My mother died and left her house in a revokable trust. My brother has been renting out the property for the last 6 years, collecting rent and paying taxes, home repair, etc."

How long ago did your mother pass away?

Any idea why your brother doesn't want to sell, etc?

Do both of you already have homes of your own?

Are you living on any income from the trust?

At the very least, a will would answer a couple of questions.

As others have said you need to get a copy of her will and the trust.
Are you a beneficiary of the trust?
Is your brother a trustee?

Check with the Registrar or Wills for your state. Here in Maryland you can order copies of filed documents online.

Just because no one has suggested it yet...but I would first talk to my brother elly_nj and ask him for the document and get the facts of the trust and all from them. Good luck and please let us know the result.

A revocable trust becomes irrevocable after the settlers pass. Unless your brother is part owner of the trust it canâÂÂt be changed. You need a copy to see who the beneficiaries are and who the successor trustee is.

>>A revocable trust becomes irrevocable after the settlers pass. Unless your brother is part owner of the trust it canâÂÂt be changed. You need a copy to see who the beneficiaries are and who the successor trustee is.>>

All have given good advice. A trust does not "dissolve" after death. For example, it files tax returns to the IRS just as an individual does. Once all financial assets of the trust are used up/distributed, THEN the trust ends after filing a last tax return.

The reasons lawyers like trusts is you can draw them up to say anything you like, and they are more private then wills.

Your parents would have put the house in a trust that was revocable while they lived (with them as both beneficiaries and trustees). They would have written the trust so it became a trust with someone else as the beneficiary after they died. *IF* your parents made your brother the sole beneficiary, what he is doing is appropriate.

Get a copy of the trust document and show it to a lawyer. In some states a trust that owns land would have to be filed at the County Registry of Deeds. Your brother has a copy, or you might be able to get a copy from the lawyer who represented your parents and drew it up.

This post was edited by edlincoln on Sun, Dec 21, 14 at 0:56

If the house was in a living trust, it was revocable while she was living, but it would have become permanent when she passed. It is my understanding that is a necessary part of living wills. I am just wrapping up administering my father's.

It is true that you have a lot of flexibility in determining how a trust will be structured and what will be allowed and what is not. You have a right to a copy of the trust agreement, any amendments, any wills or other documents. They should have been given to you. If you don't have them, ask for them. If you do, read them and then go to an attorney with your list of questions.

You won't be able to figure out what you will need to do to live in the house until you know what your rights under the trust are, if any, and if your brother has not been handling things properly, you determine what you are entitled to to make up for that. If he was left the house and the only harm here is that you may not have copies of documents, you might have to purchase the house from him -- completely. But the house may be half yours or left completely to you. You can't act on guesses and maybes. If your brother isn't telling you and showing you documents so you can read it yourself even after you ask for them, it's time to contact an attorney (the one who prepared the trust documents should also be able to give you copies, but they don't represent you and may not be able to advise you).

Thank you, everyone, for your advice and input.

My mother died in 2007; my father died 2013. I did some research on county records, and the trust was established around 2005. I think that's when mom was diagnosed with cancer.

It says:

In the event (mom) shall fail or cease to serve for any reason, Grantor appoints (my brother) as successor trustee.

In the event (brother) shall fail or cease to serve...Grantor appoints (Me) as successor trustee.

... the successor Trustee (brother) shall have the same powers and the original trustee...

And the Grantor hereby covenants with said Trustee (brother) that the Grantor is lawfully seized of said land in fee simple; that the Grantor has good right and lawful authority to sell and convey said land; that the Grantor hereby fully warrants the title to said land (?) and will defend the sme against the lawful claims of all persons whomsoever.

i am the successor Trustee. Not sure what that means. Can my brother hand it over to me? Can anyone enlighten me?

Here's the thing: I have cancer in remission. I don't know how much time I have left. 2,3,4 years?? 10?? I don ''t want the house except to live in for the rest of my life, whatever it is. I want to pay taxes, all fees and improvements, etc. I don't want anything from my brother except to live there. I want to get whatever deductions, homestead allowances, whatever an owner is entitled to s owner.

All goes to him when I die.

I am on good terms with my brother. He has been evasive, though, maybe because he thinks I want part of the rent for the last 7 years, which i do not.

Next, I will tell him my intentions above, and ask for the paperwork and see if we need a lawyer for this. I don't think my brother would screw me intentionally. If he did these 7 years by collecting the rent, that's fine by me: he took my father in after mom died.

Oh: I live in NJ and he in Florida. So I'm far away.

Any further advice? Thanks so much, all of you, for your thoughtful and helpful advice.

Well, I'm not an attorney, but it sounds to me like your brother is Successor Trustee and thereby is totally within his rights to do whatever he wishes with the property.

Sounds like you become Successor Trustee ONLY if he fails or ceases to serve.

I agree with you that you need an attorney to give you the bottom line on this.

If your brother agrees, you could look into a life estate.

The fact you are "successor trustee" just means if something happens to your brother you are supposed to be in charge of the property.

The trustee is supposed to run things for the benefit beneficiaries. He can be sued if he doesn't faithfully serve the interests of the beneficiaries. The beneficiaries could be the trustee or could be someone else. If you are a beneficiary, the trustee may be required to give you some share of the rental income or let you live in it or something. He can't just pocket all the money.

Do the county records contain a complete copy of the trust? If so, look for any reference to "beneficiary", "contingent beneficiary" , "distribution of income" or "indemnification".

You should probably get a lawyer from your state.

I am an estate planning lawyer and I draft revocable trusts. Your brother, as the trustee, must follow the terms of the trust agreement. He cannot do whatever he wants with the trust assets. It is not clear what the trust says should happen to the house or other trust assets following your mother's death. It is important to meet with a lawyer and provide the lawyer with a copy of the trust agreement so the attorney can explain the terms of the trust and your rights to you. Since you quoted the trustee appointment section of the trust agreement, I assume that you have the entire trust agreement. If the house is in Florida, I assume the trust was drafted in Florida. Florida has lawyers who are board certified in estate planning. Contact a Florida lawyer who are board certified in estate planning to advise you.

The trustee (your brother), as legal titleholder, can exercise most of the usual rights over trust assets. I.e, the trustee can usually invest or sell the assets. But trustees can't act in their own interest; they must act in accordance with the trust terms and their fiduciary responsibilities to any other trust beneficiaries.

Your brother is the named successor trustee for as long as he wants to be and fulfills whatever obligations there are - seeing to it that any income taxes were paid, paying property taxes, collecting rents, maintaining the property. If he relinquishes his duties, you become the successor trustee and assume all the rights and obligations.

Depending on the terms of the will and trust, you may have to buy your brother out if you want the house. FWIW, when my brother (successor trustee) and I were discharging my Mother's trust and we were splitting the assets, I had the appraised value of the house deducted from my share of the assets. He didn't want the house, but I did since I was already living in it as a caregiver for my Mother.

I do agree, in your case, you need an attorney specializing in estates and trusts. There seems to be an asset here that you are not reaping any benefit from - if it was an original intention that assets should be shared in some manner. With an attorney, it's not an impossible thing to settle.

From what you have posted we now know that your brother is successor trustee. That gives him the power to administer the estate according to the terms of the trust. He canâÂÂt just do whatever he wants he has a fiduciary duty to follow the term set forth in the trust. As the second successor trustee you would have the same power if your brother was to pass away or for any reason decided he didnâÂÂt want to be trustee and stepped down.

You still need to have a copy of the trust to see who the beneficiaries are. I would guess that if your mother listed you as second successor trustee she more than likely left the estate to you and your brother equally. Maybe not but you will never know if you donâÂÂt have a copy of the trust.

Your brother has not been forthcoming with his fiduciary duties he should have given you not only a copy of the trust and will he should have given you a complete accounting of all assets and liabilities as of the date of your motherâÂÂs death. He should have had the house appraised as of that date to take the tax advantage of any step up in value. He should be giving you at least an annual accounting of current income and expenses from the rental property. He should be giving you copies of bank accounts their current standing or if they were disposed where did the funds go. A copy of the annual property tax and letting you know who paid them, him or your motherâÂÂs estate, a copy of the income tax papers that he should be filing each year for the trust if he hasnâÂÂt completely closed it out and if he has you should have gotten that accounting also. If he did close the trust you need to know whose name he transferred the property to if you are equal beneficiaries he has broken the law.

And if you are both equal beneficiaries you are entitles to half the income from the last 7 years. I wonder who is paying tax on that income if itâÂÂs the trust you and he have been paying a lot more than you need be.

To say your brother has been evasive is an understatement.

There's a great old saying: "Never say you know anyone until you've split an inheritance with them."

That was very true with my sister, who is painfully honest. But she shaded the lines a bit when our eldest sister died...and I think your brother is doing the same.

GET A LAWYER. This is money, and therefore it is business. Stop thinking of it as if your brother borrowed your old car and plans to give it back eventually. This does not have to be adversarial, but you and your brother need to learn to do things correctly.

If he has breached his fiduciary duty he is legally liable. You can choose to let him off the hook (for example, if it turns out you did have rights to that income over the past 7 yrs, you can agree to waive it as long as he starts doing things correctly from this day forward). But you do no favors to either of you by allowing things to remain "fuzzy".

Be true to your parents' wishes and find out what they really wanted. Then stay true to the law to carry those out in the best interests of BOTH you and your brother.

"maybe because he thinks I want part of the rent for the last 7 years, which i do not."

Whoa. Somebody's got some 'splaining to do, possibly in court, lol.

There is another thread in this forum that has some great posts about revocable trusts, wills, and estate planning:

https://www.gardenweb.com/discussions/2594920/estate-planning