Banks seem to refuse spirit of Trust Account instructions
My mother recently passed. She was very savvy and didn't want her estate to go to probate. To which end as she was dealing with cancer she essentially liquified all her assets into cash and opened Revocable Trust accounts in 5 different banks in her area in Florida naming me the Successor Trustee of each. I am also her only son and sole heir in her Will and her estate is sizable.
In dealing with the banks in Florida I notified each of her passing and provided them with the legal documents each said it required to accept my position of Successor Trustee and since I live out of state on the other side of the US and none of the banks have branches in the state I live in I informed them that once the accounts were transferred it was my intent to contact them again about what I wanted done with the funds.
1 - accepted and sent me the forms to switch the account to me. 2 against my instructions closed the accounts and sent me checks in the name of her trust. 1 is telling me that they to are closing the account and doing the same and the last bank isn't quite sure how it wants to proceed.
My bank tells me that they cannot accept the checks I have in my possession since they are made out to my mothers Trust and I can't negotiate them as the Successor Trustee and that the Florida banks need to either reissue the checks in my name or wire transfer the funds in my name.
The Florida banks say that is not what their legal departments tell them and that they've already completed their requirements.
I would like to believe that this isn't going to have to become a legal morass. I would appreciate any insights you may have.