▲ 35 r/EstatePlanning
(CA, USA) Relative died, I was named as beneficiary for financial account, and trustee now asking for balance of the account
I recently inherited money as a named beneficiary of a financial account. The trustee sent me notice asking to confirm and provide the balance in the accounts, as the will states that it should be split with other members of the family. My questions are:
- Do I need to provide this information, or will this information be given by the bank to the trustee regardless of whether or not it is provided?
- Will the money eventually need to be sent to the trustee?
- What happens if the money has already been spent?
- Can they compel me, legally, to somehow come up with the money?
- If I do provide this information, does this mean that I take a reduced amount from the rest of the estate being divided?
u/Square_Lake4216 — 11 hours ago