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Handling of a trust

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Latest post Tue, Sep 11 2007 10:37 AM by LIMAMA. 5 replies.
  • Mon, Sep 10 2007 5:38 PM

    • Danny5
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    • Joined on Mon, Sep 10 2007
    • Posts 3

    Question [=?] Handling of a trust

    My parent died leaving me as the trustee of his trust. Beside posting in the newspaper 3 times asking if any unpaid debts, is there anything else I have to do in Arkansas before disbursing the monies? Does one have to come to court to show the trust has been distributed? Is there perhaps a dolar amount for the trust that might bring me back to Arkansas? I live in Minnesota and it is a bit of a trip for me if I don't have to come there in person.
  • Mon, Sep 10 2007 5:57 PM In reply to

    re: Handling of a trust

    "Beside posting in the newspaper 3 times asking if any unpaid debts, is there anything else I have to do in Arkansas before disbursing the monies?"

    Is this a trust? If so, I can't imagine why you'd need to advertise anything in the paper. What you describe sounds like an action taken in connection with administration of a will. Also, the issue of Arkansas vs. Minnesota has me concerned that what you're really talking about is probating of an estate.

    You should be talking with an AR estate-probate attorney.


  • Mon, Sep 10 2007 11:06 PM In reply to

    • Danny5
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    • Joined on Mon, Sep 10 2007
    • Posts 3

    re: Handling of a trust

    I checked with some books on line and I saw I had to publish the announcements. Perhaps I read them wrong.

    The Trust and the Will showed my name as the Trustee. I just want to make sure I am following the law as I don't want any problems in the future and didn't know what the next steps are. I have Power of Attorney but of course tht doesn't matter since my parent died. I am the trustee for the account but want to make sure I am following the propper steps in closing the financial accounts.

    Mom married Step Dad but they each made their own trust. Then they made a "family trust". The will only handled the "family trust" items, the car, house etc"

    I just wnt to make sure I don't do the wrong thing as I close out Mom's trust. Do you still think I need to talk with a lawyer? We had one but she was incompetent and was acting in an untimely fashion to our previous questions.
  • Tue, Sep 11 2007 12:20 AM In reply to

    • LIMAMA
      Consumer
    • Top 50 Contributor
    • Joined on Tue, Jun 10 2003
    • Posts 1,542

    re: Handling of a trust

    Yes, you need a lawyer.
  • Tue, Sep 11 2007 10:35 AM In reply to

    • Danny5
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    • Joined on Mon, Sep 10 2007
    • Posts 3

    re: Handling of a trust

    Can I use a lawyer in my state or does it have to be one in Arkansas?

    Thank you in advance for your help.
  • Tue, Sep 11 2007 10:37 AM In reply to

    • LIMAMA
      Consumer
    • Top 50 Contributor
    • Joined on Tue, Jun 10 2003
    • Posts 1,542

    re: Handling of a trust

    Arkansas.
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