Full question:
My question concerns a irrevocable trust from my uncle which was entered into in 1999. The Co-Trustees, a lawyer in Florida and Citigroup Trust-Delaware, N.A. pursuant to a Court Order of the Circuit Court In and For Miami-Dade County, Florida, dated October 15, 2006 Probate Division, File No 05-1466 CP (04), the co-Trustees were ordered to distribute all the assets of the Irrevocable Trust. Since that Court Order a portion of the Trust has been distributed. Citigroup refuses to distribute the remaining portion of the trust until all the beneficiaries sign a Receipt, Release, and Refunding Statement. I am reluctant to sign this as my Uncles widow has filed court papers claiming fiduciary misconduct in the handling of the revocable and irrevocable trusts. My question is must I sign this RR&R agreement in light of a criminal prosecution of these co-Trustees or does the Final Summary Judgment demand the funds be released without a RR&R agreement?
- Category: Contracts
- Subcategory: Releases
- Date:
- State: North Carolina
Answer:
In some situations, a court order may require a release to be signed before payment is made. If the court order does not specify this requirement, you may need to file a motion for contempt to compel payment.
Signing a release can be used as a defense in a lawsuit regarding misconduct in handling funds. If the court order is not followed, you can file a petition for contempt in the court that issued the order. You can also request the court to order the noncompliant party to compensate for any losses caused by their failure to comply.
The court has ongoing authority to enforce its orders and can hold a noncompliant party in contempt. Additionally, you may file a Judgment on Rule for Contempt, which is a prepared judgment for the judge to sign, to facilitate the court's decision-making. A certificate of service should be filed with the petition to show that it was served on the opposing party.
I recommend consulting with a local attorney who can review the specific facts and documents related to your situation.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.