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Author: yoyobates Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 5741  
Subject: HELP! Inheirtance Fiasco Date: 1/23/2002 6:10 PM
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Hi fools,

I will make this as short as possible. About 2 years ago my grandfather died and left a large trust account to six people -- one of those people is me. Anyway, I had no knowledge that this trust account even existed until six months ago (since I am estranged from my parents)and I have never seen a hardcopy of my grandfather's will. The trust account is set up so that the principal is never touched, only the interest generated from the nest egg are paid out, and only on a quarterly basis. This past week I received my first quarterly interest payment. It was in the amount of $300. This struck me as remarkably low, considering that I knew the trust account has a market value of close to $1 million. Thus, I contacted the bank to speak with the representative who runs the account, but he was out of the office. So I talked with his secretary instead and she agreed to send me a financial report that would show how the money was being managed. The report arrived yesterday and it contained close to 200 pages, a line by line activity report that made no sense whatsovever and looked as if it had been prepared in the 1970's. However, it did break down the stocks which were in the portfolio and, shockingly, it listed the amount of total fees that had been assessed to the account which came out to close to $10K. So with all of that background, here are my questions.

*How do I get my hands on a hardcopy of my grandfather's will so that I can find out more information in regards to what I am legally entitled to?
*Is the bank that runs my account legally required to provide me with financial account reports that are easy to read? The report that I was sent was not helpful at all
*What is a good resource that will explain to me how inheritance laws work (a FOOLISH link would help)

THANKS,

yoyobates

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