My stepmother, 85, makes bizarre requests for money from my father’s $10M trust. Should I be concerned?
From Yahoo Finance: 2025-05-03 07:00:00
A stepson questions his father’s trust set up for his 85-year-old stepmother, worth $10 million. Concerns about the bank trustee’s oversight arise, as stepmother appears financially secure with the trust’s income. The trustee’s language and disbursements raise doubts about the stepson’s future inheritance.
The stepmother’s age prompts provisions for distributions from the trust, ensuring funds are used for specific purposes. Transparency and accountability are key for the trustee’s oversight. The father’s estate plan is standard for blended families, aiming to provide for the survivor for life before assets pass to the next generation.
Under the Prudent Investor Act, the trustee must invest trust assets for total return. Distributions based on needs and age are common to help beneficiaries handle newfound wealth. Corporate trustees like banks bring expertise and fiduciary duties to trust management, promoting transparency and communication with beneficiaries.
The stepson’s concern over trust disbursements may stem from a lack of communication from his father. The trustee’s role is to safeguard the trust for all beneficiaries. Understanding the trust’s purpose and provisions can help ease tensions between family members and ensure fair distribution of assets in the future.