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My parents had a Living Trust containing their home and Bank accounts. There are three equal benefisiaries.I have one brother and one sister and we were all named equally.In the year 2000,my parents were involved in an auto accident,killing my father and injuring my mother.My mother had previously suffered a small stroke which left her unable to make decisions on her own.We three siblings decided at that time,with Moms good graces,that she needed help in making decisions involving her health and finances.At that time,(after all life insurances payments) there was approximately $350,000.00 in the Bank and their home with an approximate $150,000.00 value. My mother also received a retirement check from the Federal Government each month(my Fathers Postal retirement)worth approximately $2700.00 monthly.
My brother volunteered to take care of the Financial portion of the Trust including paying the monthly bills, yearly taxes, medical bills,home care,and care in an assisted living facility.
Mom passed away in 2006 thus leaving the assets to we three siblings. Since Moms death, my brother has succeeded in spending all of the remainder of the bank account without my sister and my consent($150,000.00) plus he did not notify the Federal government to cancel the retirement payment.He kept receiving the funds which were auto deposit into the trust account.Needless to say,the Feds caught onto him and has made his life miserable ever since.I never thought that my brother would have done something like this to my sister and me.We evidently were quite stupid to trust him and to give him that power.
Since he broke the Bank account of the Trust,I have been paying all bills and taxes for the property(approximately 5 years). The home is the only item left in the Trust and is used as a summer get-a-way house for all of the family(except my brother).
My question to you is: What document do you have that will remove my brother as a beneficery to this living trust? My brother has agreed to being removed as a beneficery.Can this be done with just a Notary with his siginature?
Thanks you for your time.