Legal Question in Wills and Trusts in Arizona
I am the trustee to my Father's Irrevocable Family Trust that is connected to his life insurance policies.
5 years previously he wrote an Inter Vivos Revocable Trust agreement regarding his estate. ( My stepmother has this ). This Trust was amended 4 times, one in which a family member was disinherited.
My question is about distributing benefits from the life insurance policies now that he is gone.
Am I bound to give the person who was disinherited a share since the Trust connected to the life insurance is Irrevocable?
Any help on this would be appreciated.
1 Answer from Attorneys
The terms of the irrevocable life insurance trust, determines who are the beneficiaries of that trust and who should receive the proceeds from that trust estate. The terms of the IV revocable trust, as amended, determines who are the beneficiaries of that trust estate and who may have been disinherited by amendments to that trust. As I told you in a previous reply, if you are the trustee, you are bound by the terms of each trust agreement.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
