Negotiating with an Institutional beneficiary
Anyone have experience negotiating with an Institutional beneficiary in California?
I recently became the successor trustee (and beneficiary) to a Trust for a close family friend. The family friend was a widower with no children. She told me and others she intended to leave much of her estate to me. She recently passed away and we learned the Trust only gifts me specific real estate which was sold prior to her death. She never updated the trust with her new home. The trust leaves all residual property to a University charitable Foundation. This essentially leaves me with nothing.
This was devastating to discover. We’re all certain this was not what she intended and believe she didn’t understand the trust at the time she wrote it.
The trust attorney believes we can negotiate with the Institution and demonstrate her intent. Between statements and timelines we have some evidence to back up the claim. I’m hoping to get an agreement for some portion of the estate (as intended) to avoid litigation. Anyone know if this is common and how Institutional Organizations approach these situations? Part of me thinks they’re just going to tell me to go pound sand.