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Court delays approval of first annual accounting after trust funds used to buy family home
Summary
A Lenawee County Probate & Juvenile Court judge continued review of a supplemental needs trust accounting after questioning use of trust assets to purchase a family residence and asked petitioners to submit written documentation of the arrangement before a March 6 hearing.
At a hearing in Lenawee County Probate & Juvenile Court, the judge continued review of the first annual accounting for a supplemental needs trust after questioning whether trust assets were used in a manner authorized by the court.
The petitioners — parents and co-trustees of the trust created for their son — had filed the first annual account showing investment activity, bank fees, closing costs and legal fees, and reporting that the overall value of the trust had grown by more than $32,000. Attorney Jessica Kelly, representing the petitioners, told the court the trust was established with settlement proceeds and approved by the court on June 7, 2023, and that the account includes a house, a MiABLE account and Morgan Stanley investments.
The judge focused on whether the court’s earlier order authorized the liquidation or use of trust assets…
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