What Beneficiaries are Really ThinkingThis article describes real world frustrations of beneficiaries. Many of the statements contribute to further miscommunication between beneficiaries and trustees. Do any resonate with you?

This article describes real world frustrations of beneficiaries. Many of the statements contribute to further miscommunication between beneficiaries and trustees. Do any resonate with you?

“I am not sure I even have a copy of my trust instrument.  I think it’s in Dad’s old estate files with the lawyer.  I don’t remember exactly what it said.”

“I don’t get trust bank statements but I think my trust was worth around $XXX last I checked.”

“I do get these huge trust bank statements, along with my other personal bank statements and bills each month.  I have to say, they are so long and complicated that I file them away and try to look at them later.  I think the last time I really looked at them was a few months ago.”

“I let my spouse handle my trust.  He/she is better with finances than me.”

“I let my adult child deal with my trust.  He/she is better with finances than me.”

“I don’t go to trust meetings.  We just never had them and I figure I’ll just ask for more money if I need it.”

“I go to trust meetings each year and meet with the Trustee to go over my Trust.  He talks a lot about legal and financial terms that I just don’t understand.  I don’t want to be rude, so I nod my head until it’s time to go.  I have to say I dread those meetings now because they make me feel stupid and useless.  Maybe it is better that the Trustee is handling this money for me.”

“When I need money for something, I call my Trustee over and over again until I get a hold of him.  This can take days or weeks and by the time I get him, I’m furious.  I get really snippy and agitated – wouldn’t anyone?”

One time I yelled at my trustee and he just calmly told me I couldn’t get what I was asking for.  I mean, he just didn’t care what I was saying.  For him, it was just another request for money.”

“I hinted that I might need a lawyer to get what was due to me.”

“I don’t trust my trustee.  I don’t like him/her personally and I don’t relate to him/her at all.”

“I hate dealing with this trust and  have given up on trying.  I avoid trust issues and file them away until I figure out what to do next.”

“As angry as I am, I don’t want to make too many waves and then have the trustee deny future distributions to me.  After all, the trustee controls my trust funds.  My hands are tied and I’m so frustrated I could scream/cry.”

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