My question involves estate proceedings in the state of: Pennsylvania
Is it possible to incorporate a trust as part of a will under PA law? My grandfather's will was written in 1972. The beginning deals with specific things and who he wanted them to go to. The second part which is about 3/4 of the document specifically lay out in great detain the terms of an "unnamed" trust. It says it provides for his wife and that she is to receive quarterly disbursements and that the three grandchildren (who are now in their 60's) where to have their education paid for and would be the sole beneficiaries after our grandmother's death. My grandfather died in 1983. His wife, our grandmother died in 1991.
The handling of my grandfather's estate was handled properly, my grandmother's was not. We have recently located an investment portfolio that was not included in the estate. It makes quarterly disbursement and has done so for the last 27+ years. The investment company has positively identified it as our grandparents property but because we don't know the EIN number attached to the account we can't get any additional information. We assume it's an EIN that was assigned to the trust in 1972.
If the 1972 will is also the trust agreement then there would only be three beneficiaries of the trust after our grandmother passed away in 1991. We recently found a 1983 audit to the Orphan's Court of a trust that was created in 1972 and recorded with the Orphan's Court on the same day as my grandfather's 1972 will was recorded.
The audit is titled as follows: "Court of Common Pleas of ??? County, PA, Orphan's Court Division, Trust Under Deed of [grandfather's name], Deceased, Dated May 31, 1972 As Amended November 23, 1982. First and Final Account". Millions of dollars disappeared.
The trust the audit describes was never probated and completely disappeared until recently when the investment firm mentioned above acknowledged the assets in their custody. They will not tell us who has received the disbursements for the last 27+ years.
So... is it possible that the trust agreement is incorporated into the will itself?
If so what's the best way we can solve our problem?
Thanks,
Jack
Is it possible to incorporate a trust as part of a will under PA law? My grandfather's will was written in 1972. The beginning deals with specific things and who he wanted them to go to. The second part which is about 3/4 of the document specifically lay out in great detain the terms of an "unnamed" trust. It says it provides for his wife and that she is to receive quarterly disbursements and that the three grandchildren (who are now in their 60's) where to have their education paid for and would be the sole beneficiaries after our grandmother's death. My grandfather died in 1983. His wife, our grandmother died in 1991.
The handling of my grandfather's estate was handled properly, my grandmother's was not. We have recently located an investment portfolio that was not included in the estate. It makes quarterly disbursement and has done so for the last 27+ years. The investment company has positively identified it as our grandparents property but because we don't know the EIN number attached to the account we can't get any additional information. We assume it's an EIN that was assigned to the trust in 1972.
If the 1972 will is also the trust agreement then there would only be three beneficiaries of the trust after our grandmother passed away in 1991. We recently found a 1983 audit to the Orphan's Court of a trust that was created in 1972 and recorded with the Orphan's Court on the same day as my grandfather's 1972 will was recorded.
The audit is titled as follows: "Court of Common Pleas of ??? County, PA, Orphan's Court Division, Trust Under Deed of [grandfather's name], Deceased, Dated May 31, 1972 As Amended November 23, 1982. First and Final Account". Millions of dollars disappeared.
The trust the audit describes was never probated and completely disappeared until recently when the investment firm mentioned above acknowledged the assets in their custody. They will not tell us who has received the disbursements for the last 27+ years.
So... is it possible that the trust agreement is incorporated into the will itself?
If so what's the best way we can solve our problem?
Thanks,
Jack
Trusts: Is It Possible to Incorporate a Trust As Part of a Will
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