Q: Dad's assets are cash and in a family trust. Can the trust be distributed upon death?
The will and trust were attorney prepared. Scott trade is dragging up about giving up the cash in that account; all stocks were sold and that is the only asset not in the trust. Dad is in hospice in a coma and may die at any time. My sister has poa over all finances and all other banks gave the cash immediately when she presented the paperwork. All money was deposited in the trust account. Scott trade wants more paperwork. Dad is single...Mom passed 11 years ago.
A:
That is two different questions. 1) without seeing the trust paperwork on what is to be done at death with the assets in the trust, it is impossible to know what distributions will be allowed.
2) What 'additional' paperwork is Scott Trade looking for? Are they objection to transfer into trust, or are they uncertain about your sister's authority to deal with the issues? Perhaps they need a certificate of trust existence and authority? That would be needed. Seek local legal help to get things in order, and present ALL the documents including whatever Scott Trade is asking for so you can get some real advice.
--This answer is provided for informational purposes only and does not create an attorney - client relationship. If you need legal advice you should consult with a local attorney. I am licensed to practice in Michigan only.
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