Need advice about Revocable Living Trust - Have an issue with my sister

[Irishstar]

I have 2 siblings. My parents named me as the beneficiary of their checking account in their Revocable Living Trust and I am also the executor of the trust. My mom passed away 2 years ago so my dad is now the trustee. He pays all of his bills through this account and pays for other living expenses from it, and has been sending checks to my sister over approximately the last 5 years to pay for her 3 kids education. My dad gives this money as a gift and also gives myself, my sister and brother birthday and christmas money out of this account. My sister does not know this account has been entrusted to me. There are other accounts that are named to each of us. If I look at all the money for birthday's and christmas, we have been receiving it for years and would be virtually impossible to track, so I am not worried about that. The education money has been in the thousands, estimating approximately $30,000.00. My sister has mentioned to my dad that she may need money to help pay for an operation her husband needs and she has said that she wants that money to come out of what she has coming to her in the trust. My dad has never withdrawn any money from any of the other accounts.

Even though this account has been given to me in the trust, but hasn't legally been turned over to me at this time since my father is still with us, do I have the right to demand my sister pay me back? Or is the account only legally mine when my siblings and I go to a lawyer to execute the trust and whatever money has been paid out I can't get back?

If I do have the right to demand the money be repaid to me, how do I go about that?

When would be the time to do that?

Should I demand the money be taken out of her accounts?

I have not spoken to my dad about this as I know that he will not agree.

 

[dee_dub]

Even though this account has been given to me in the trust, but hasn't legally been turned over to me at this time since my father is still with us, do I have the right to demand my sister pay me back?

Nope.

Or is the account only legally mine when my siblings and I go to a lawyer to execute the trust and whatever money has been paid out I can't get back?

Yep. The account hasn't been given to you in the trust, at least not yet. The trust is revocable, and your interest in it is contingent on your father's death. So your father is free to do with as he wishes, and your sister is under no obligation to pay it back, either to you or your father.

Should I demand the money be taken out of her accounts?

Well, you might try requesting it. Your father is under no obligation to do so. I think a reasonable person could be made to understand that, if the purpose of the trust is to deal with all of you equitably, encroaching on the portion you will be entitled to to benefit your sister defeats the purpose.