Pair of stepsiblings must get their share of mom’s trust agreement
Q: My mother died a few months ago. Under her revocable trust, which names my aunt as trustee, my sister and I are to receive 40 percent each and the remaining 20 percent is left to her stepchildren. The 20 percent passing to them is a very large sum of money. If my mother had known she was giving this much to two stepchildren that she didn’t see for 50 years, she wouldn’t have made the bequest. If we don’t give 20 percent to the stepchildren, how would anyone know? Who is accountable?
A: Your aunt absolutely must give your stepsiblings their share of the trust.
As trustee, your aunt has a fiduciary duty to carry out your mother’s wishes as expressed in the trust agreement. Your mother had half a century to change her mind and remove your stepsiblings from the trust, but she never did.
Your stepsiblings could find out by hiring a lawyer and demanding to see a copy of the trust agreement. In fact, they may have been told many years ago that they will be getting a portion of the trust. As soon as they learn your mother has died, they might be on the phone with their attorney. Also, the trust agreement might require your aunt as
reflect their values, perform meaningful work and provide an opportunity to address social problems.
Six of 10 Americans said their employer reflects their personal values and that they would leave if the CEO or business took a stand on social issues they opposed. Two-thirds
of people between ages 18 and 34 said they chose their employer based on corporate values and beliefs.
Three-quarters said they would “take action to produce or motivate urgently necessary changes within my organization.” Forty percent promised to take the issue public, either by whistleblowing, leaking documents or participating in a strike.
More than a third of
Americans said they have quit a company “because it remained silent on a societal or political issue that I believed it had an obligation to publicly address.”
Edelman’s results demonstrate how our identity is wrapped up in our careers more so than any other generation. With managers struggling to find skilled labor, companies must deliver not only a paycheck, but a sense of meaning and purpose.
Past generations sought fulfillment elsewhere. Workers joined unions to
improve workplaces rather than relying on managers. Others joined political parties, campaigning for candidates and policies. Many found meaning in religion and charity work.
In the 1950s, more than a third of American workers were members of a union. Today, it’s barely 10 percent. Rather than see the CEO as an adversary at the contract negotiation table, workers expect them to be a benevolent leader who shares their values.
Political party affiliation has also shrunk over
the decades, with 40 percent of Americans calling themselves independent. The days when a significant portion of Americans attended regular political party meetings and directly lobbied politicians are long gone.
Participation in organized religion, meanwhile, is at an all-time low. Less than half of Americans belong to a religious group.
“Over the past two decades, the percentage of Americans who do not identify with any religion
has grown from 8 percent in 1998-2000 to 13 percent in 2008-2010 and 21 percent over the past three years,” Gallup polling reported.
Cynics might say U.S. capitalism has finally succeeded in producing wage slaves committed to a corporatocracy that rules Washington via campaign contributions. Optimists might argue that workers are leveraging their skills to force corporate management to build a better world for everyone.
Both have some element of truth, of course. But I cannot help but notice a correlation between our rising factionalism, intolerance and unhappiness and our greater reliance on our employers for fulfillment.
The most encouraging sign is that 20 percent of workers say the COVID-19 pandemic has inspired them to leave their jobs and seek a more balanced life. I wish them luck.