80 year old Can’t Get her Big Inheritance Without Indemnifying the Trustee -…

80 year old Can’t Get her Big Inheritance Without Indemnifying the Trustee – Sho
My 80 year old aunt was left a good deal of money from a friend’s trust (the friend lived in Florida, and died March 2001). She’s supposed to get money both from a specific bequest, as well as from one half of the residuary trust. The trustee said he is willing to release the gift part now but only if he is indemnified. My aunt is nervous about signing the indemnification agreement – should she be? Would she give up any of her rights to the remaining half due her by signing an indemnification for the specific bequest?
She wants to enjoy the money as soon as possible, but is told the only way she can get part of the money now is to sign. Is it standard practice to require such an indemnification?

2 thoughts on “80 year old Can’t Get her Big Inheritance Without Indemnifying the Trustee -…

  1. Re: 80 year old Can’t Get her Big Inheritance Without Indemnifying the Trustee -
    General Releases from liability are common
    Indemnifications are not.
    It may well be a question of semantics
    The document she is being asked to sign
    should be reviewed by counsel to determine
    the extent of what she is relinquishing
    so she can make an informed decision

    Garry Hanlon
    Garry Stephen Hanlon, Esq.
    PRACTICE CLOSED
    Rochester, NY 00000

  2. Re: 80 year old Can’t Get her Big Inheritance Without Indemnifying the Trustee -
    The trustee is correct in demanding an indemnity. It requires your aunt to pay back any amount which should not have been paid to her in the first place. Not an unfair arrangement.

    Under no circumstances should she give up any rights to the 1/2 of the remainder.

    Norman Nadel
    Norman Nadel, Esq.
    286 Madison Avenue- Room 1802
    New York, NY 10017-6302

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