
MRS. DE SANTIS
Mrs. DeSantis was the income beneficiary of an A/B Trust with three cotrustees. Initially, the trust provided that all trustees had to agree but that wasn’t working. The court was asked to allow majority vote to rule and it did so. However, when one of the majority cotrustees died suddenly, the court required a private professional to succeed.
Just after marshaling the assets it was settled amongst the beneficiaries to terminate the trust and end familial relationships. Our task was to work with several siblings and relatives to obtain approval from local courts to sever the trust and distribute assets. We also had to petition for approval to divide assets much like you would see in a divorce – surcharging one account for property in lieu of cash and making distributions to the other heirs based upon that value.
Note that information has been changed to protect our clients' identity.Any similarity to current or past clients may be coincidental.