Trust
The first mistake, it seems was trusting the Trust "Relationship Manager". We had a lovely chat, which I discussed a while ago here, and he assured me that everything would be set up, and I would get a nice chunk of my moolah today.
Not.
It seems that Rick Schultz, who is no longer a "Relationship Manager" (though he still has voice mail) didn't do anything at all with my trust, including liquidating any of it so that I can get money. Not today, not tomorrow, not for weeks, possibly months, as someone else picks up his dropped ball. Here I am with a party to pay for on Saturday and about $100 left from tomorrow's paycheck. The rest is already committed to paying for my most recent automotive disaster (post dated check held till tomorrow), renewing my license tags (had to do it today) and paying to keep the lights on.
So... instead of looking forward to the end of endless and increasingly threatening creditor calls, I can instead anticipate more of the same for the forseeable future.
The nice fellow who's always disbursed money from Mom's trust is supposedly going to pick up the slack. I am to call him tomorrow - he was in a conference call this afternoon. At most I might be able to get $2k -- the liquid portion of Dad's trust -- and I just hope to God I can get it before the check I have to write for the party Saturday clears.
Surely someone there should have mentioned that Schultz was no longer handling my disbursement when I called on the 15th? Of course, I left a message for the disbursement guy and he never called me back, so perhaps it's business as usual for National City Bank. I sure as hell hope not.
I guess it's a good thing I called the general number this afternoon when I didn't get a call back from Mr. Schultz. I thought it was odd that I hadn't gotten anything to sign or anything, but I am so totally ignorant about financial matters that I was only mildly concerned.
I just can't seem to catch a break. I think I'll just go cry now...
Where's Jae?
2 Comments:
Nice to have a trust, but have you considered living within your means and not relying on the trust? If you draw on it then it won't be there for long and then you won't have any choice but to live on what you earn from working and there won't be anything left to fall back on.
Good advice, Dave. I wish I could. I used to be a network
administrator. Last year I made 16K as a temp; it's hard to find a new career at my age, in the Michigan economy. With no health insurance, diabetes and hypertension, living within 16k a year is pretty hard. Especially since my former income was 42k.
I've patiently waited 22 years for this trust, which was to disburse to me completely on my 50th birthday, today. My intention (and still my plan) is for half of it to remain invested, 1/4 to go into something a little more liquid (like money market) and the final quarter to come to me. It's this final quarter that I was anticipating, and am using (for the most part) to pay off my debts so that I can live within my income, or at least nearer to it.
For a fiscal idiot (which I freely admit I am), I thought it was pretty good. Unfortunately it required the "Relationship Manager" to actually do his part, which he did not.
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