Before my mother passed away 2 1/2 years ago, rather than a standard will, she was advised to have a Testamentary Trust so as to protect her Estate from my ex-wife. We were recently separated at that time but our divorce has since been fully finalised.
The Trust consists of her home as well as some bank accounts. Myself and 2 brothers are equal Executors and Trustees of the Testamentary Trust. We all need to be in unanimous agreement before any disbursements can be made.
My 2 other brothers use the house exclusively. One lives there permanently and operates a business from the garage as well. He uses at least 90% of the house for his own purposes and contributes no rent towards the Estate, claiming he is entitled to this as he handles most of the Estate managing(although poorly- for example our home owners insurance policy lapsed due to non payment and no repairs or sale of some contents that were agreed upon by all 3 of us over 9 months ago have been undertaken.)
He has minimal spare time to manage the Estate. His business does not provide a great income and my request that he pays me 1/3 of rental market value was denied. My 2nd brother has his own home and mortgage but chooses to use the home as a base between jobs as well as sleeping there most nights due to convenience.
I rent and work over 100kms away, I receive no rental income from the Estate and see no benefit at all from the Trust. We all have different ideas on what direction the Trust should move and we are 3 very different people. It is unlikely that common ground can be found.
I believe that my brothers have broken the conditions set out in the Trust by my deceased Mother, that being that we are all in unanimous agreement of it's use. There have been no cash disbursements at this stage, but the use of the house is at question. I feel very strongly that we should be seeing equal benefit from the property if not in use then from seeing a rental income, but as mentioned, over 90% of the benefit from the Estate is in the hands of one.
Do I have any grounds for any action towards them breaking the terms of the Trust? I would be content with seeing an income come to me from rent, but that has proved futile at this stage.
I have also requested that the Estate be sold and split 3 ways or I be bought out, but that has also been refused.
Am I at there mercy or is there a legal way to ensure that we are 3 equal beneficiaries as my deceased mother requested?
The Trust consists of her home as well as some bank accounts. Myself and 2 brothers are equal Executors and Trustees of the Testamentary Trust. We all need to be in unanimous agreement before any disbursements can be made.
My 2 other brothers use the house exclusively. One lives there permanently and operates a business from the garage as well. He uses at least 90% of the house for his own purposes and contributes no rent towards the Estate, claiming he is entitled to this as he handles most of the Estate managing(although poorly- for example our home owners insurance policy lapsed due to non payment and no repairs or sale of some contents that were agreed upon by all 3 of us over 9 months ago have been undertaken.)
He has minimal spare time to manage the Estate. His business does not provide a great income and my request that he pays me 1/3 of rental market value was denied. My 2nd brother has his own home and mortgage but chooses to use the home as a base between jobs as well as sleeping there most nights due to convenience.
I rent and work over 100kms away, I receive no rental income from the Estate and see no benefit at all from the Trust. We all have different ideas on what direction the Trust should move and we are 3 very different people. It is unlikely that common ground can be found.
I believe that my brothers have broken the conditions set out in the Trust by my deceased Mother, that being that we are all in unanimous agreement of it's use. There have been no cash disbursements at this stage, but the use of the house is at question. I feel very strongly that we should be seeing equal benefit from the property if not in use then from seeing a rental income, but as mentioned, over 90% of the benefit from the Estate is in the hands of one.
Do I have any grounds for any action towards them breaking the terms of the Trust? I would be content with seeing an income come to me from rent, but that has proved futile at this stage.
I have also requested that the Estate be sold and split 3 ways or I be bought out, but that has also been refused.
Am I at there mercy or is there a legal way to ensure that we are 3 equal beneficiaries as my deceased mother requested?
