Question about my will

[steve185]

Looking for some advice or ideas. If my wife and I should pass away everything goes into trust for our granddaughter. We don't have many people to be the executor. How do I ensure the executor does not abuse or pilfer the inheritance?

[wdfifteen]

I think you would have a trustee, not an executor. Why aren’t your possessions in the trust now? I don’t own anything, I put all my assets in a revocable trust. For now I am the trustee with unlimited power, when I croak Mrs WD becomes the trustee, after that my son. I could have designated an attorney or bank to be the trustee, but I am fortunate to have heirs I trust to do my bidding.

[john70t]

Not an attorney but I think everything goes into trust before you pass, or else it ends up in government probate court which takes years to settle here in the states.
So you change your property deed from personal names into "granddaughter trust" or "house trust" or whatever random name you use on public records.
The details should remain private that way.
The bank accounts numbers amounts should be spelled out in the Trust documents, as well as conditions for withdraw or changes by any person.
The compensation and/or limitations of the Trustee can be spelled out, or nedd for second opinion and what happens then, as well as conditions for his/her removal and a secondary backup such as a bank officer even can serve.
You can write it all out and have the attorney polish it to local laws.

(I think that is the way it works.YMMV)

[SCadaddle]

Copy and paste from an older post that I commented on in this forum:





A Will is one thing, a Trust is a whole separate matter. In my families instance, the Will simply designated the Executrix to handle the trust. This was the case with my 99 year old Aunt, a long time widow with no children. I, along with her 2 brothers of age 89 and 91 cold called the long time "lady at the bank" one day after the probate period and asked her if my Aunt even had a will. She said she did not know. I said to my dad and uncle that if she did have a will that it would probably be recorded at the County Courthouse. The banker lady' eyes took a very different look. 30 minutes later at the Courthouse I had a copy of the Will. And the lady we just cold called....she was named as the Executrix of the Trust in the Will. Even had her signature. At death, the estate became the trust. And the bank and the banks lawyer managed to abscond about a half a million dollars from a 99 year old woman where apparently none of the family were designated as beneficiaries of the Trust, and the court ruled that since the family, being brothers and next of kin, that filed the lawsuit against the bank were not named beneficiaries, they had no recourse on finding out how the money in the Trust was paid out. My Aunt was a very secretive lady. She was sold on the whole idea that the Trust would be secretive to the probate of her estate process. I was more than certain her church was a beneficiary to the Trust. I asked her Preacher for info. He took it up with the Elders. They decided that since my Aunt was "so secretive in life, it was their intent to have her remain secretive in death". In the end, the bank sold her 18k worth of jewelry through an on-line auction. So much for being secretive.
It's a very long story. I went to the States Attorney General' Vulnerable Adults unit with no resolve and I even went and sat down with the FBI to no resolve. The latter spent what, 42 years and 5 million dollars to try and figure out how DB Cooper made off with half as much money?
So the moral of the story is IF you go with a Trust, leave $10 to a friend named as a beneficiary to make sure everything went down on the up and up. There's a reason the local community based non profit charitable organizations print brochures and leave them on the coffee tables in the communal areas of nursing homes. And when you find the one brochure and do a little investigating to find that the banks lawyer and a member of the banks Trust department are on the Board of Directors of said charitable organization you start to smell the rats.

[steve185]

Thanks for the responses, will read them further tonight.
Steve