Houston, TX asked in Uncategorized for Texas

Q: Hello, My grandfather passed away a year ago , leaving a trust that his mother set up for the family in PA.

All children of our grandfather are deceased, leaving 5 of us great grandkids. We were all contacted by an heir search company that told us that they are gathering heir information for Wilmington Bank and to expect a letter. That was in March 2019. We have three cousins that were adopted out in a closed adoption at a young age. The bank told the heir company to keep searching for them. We are all accounted for,except for them, and the heir company has already been searching for 6 months or longer. What rights do we have here? Shouldn’t we all receive a letter and a copy of the Trust? Last I heard,the search for the kids adopted out can go 6 months to a year more, according to the heir company. I feel like the bank is taking advantage of this to keep money there longer. Please advise.

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1 Lawyer Answer
Tammy Lyn Wincott
Tammy Lyn Wincott
Answered
  • San Antonio, TX
  • Licensed in Texas

A: If I understand this correctly, your great-granmother set up a trust for the "family" which included your grandfather. The terms of the trust will control who the trust assets pass to. I suggest asking for a copy of the trust.

Be wary of this "heirship company" if they are asking for any fees from the trust funds. If so, they may not be working for the bank directly.

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