Union Bank Bank Account Or Service Complaint

Union Bank Bank account or service department,

Other bank product/service Account opening, closing, or management Ohio

Our aunt & uncle had an A-B trust set up at Union Bank - - - - - CA. She died -, he died -. Trust B was never set up until -. It was supposed to be set up immediately. When the trust was split, the assets were split - between A & B without regard to individually owned assets v jointly owned assets. A assets were split amongst the uncle 's relatives, B amongst the aunt 's. It took over a year to get the first payouts. In -, they started promising " soon ''. A B beneficiary liquidated his assets in anticipation of a payout ( promised and continually delayed ) before -/-/-. No payouts were made so the trust B paid capital gains tax at a higher rate on over $100000.00. He wanted to use the gains to offset some carry over losses on his personal return. Then when the trust was split, this tax ( and - dividends & cap gains distributions ) was not taken into consideration and the split was an even - way, even though Union Bank paid a consultant over $4000.00 ( of trust $ ) to make sure it was


is still cash held in trusts A & B and the administrative ( original ) trust. There are also stocks held by - and - that were never collected by the bank. We have told Union Bank about them several times, but with no response. They claim they are holding the $ in case of a tax problem, but we paid $ - trust for those returns per year which had very little reporting, so they should be right. Union Bank charged over $30000.00 per year for many years in fees to manage this trust. The fees were stopped in - after complaints about the non communication & delays. The bank is the only - with the authority to collect the outstanding stocks. We want the remainder of the trusts & outstanding stocks distributed and I feel the bank should be responsible for that tax bill if not the shortages to the other - parties of trust B. Why are they allowed to carry on in such a shoddy fashion? Our aunt & uncle trusted them to carry out their wishes after they were gone. It was presented as an easy & efficient way of dealing with their estate. I filed a complaint with -, but apparently they believed Union Bank when they responded that the assets were distributed.