Wednesday, June 8, 2016
No Trust
When senior citizens get to a certain age, they put their money into a trust. My receptionist's mother is 88 years old and two years ago she had a trust drawn up when she was in Florida for six months. She went with her significant other to his lawyer. When it came time for the trustees and power of attorney to be named she was told that she could not have a family member, so her significant other's son was named as trustee, power of attorney and executor. My friend did not know this for a year. One day she was talking to her mother and the subject was brought up. My friend started screaming that her mother had to change this right away. Her mother, being as volatile as she is, kept saying that family was not allowed on a trust. The argument got so loud that my ears were ringing. My friend then called a lawyer and yesterday they were ending one trust to start a new one. I will find out this morning what happened.
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