Fighting with a client, on the other hand, can escalate tensions and backfire. The bottom line is that everyone must follow the dictates of the documents in the end, and that an angry heir may simply not have the authority to get what he wants.
Trust officers at a financial institution listen, collect information and then may take the request-say, to withdraw more money-to a committee that looks it over and decides whether it is consistent with language in the document.
Often, the most demanding heirs are those with the most tenuous relationship to the deceased. "It's some kind of inverse relationship," said Johnson. "The more remote they are, the more insistent-they just know that Aunt Margaret wanted them to have this or that."
Indeed, grandchildren, as in the Wachovia case, are more likely to sue over an estate than children of the deceased, according to Fitzsimons. This is where one sees lawsuits to compel large distributions, to support a lavish lifestyle or avoid having to work.
Many people have a very simplistic view of a trust. "This money was for me and I want it," they think, not understanding some complexities.
This makes life hard for advisors, who often must keep various loyalties straight. A trust may provide lifetime income for a spouse or child, leaving what is left over to others, known as remaindermen. In that case, the trustee has to balance the needs of direct beneficiaries with those of the remaindermen, making sure assets are invested to grow.
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