Legal Question in Wills and Trusts in California

Re: modification of trust, after death?

Consult with an attorney about the types of investments the trust could hold--I've seen limited partnerships set up, so that the beneficiaries get a limited partnership interest, which can provide them income, but is very difficult to sell or borrow against, and the trust terms may allow you to do something like that.

You can also see if the beneficiaries are willing to voluntarily do something like that--if they're big spenders, probably not, but perhaps they (or their parents) would see the wisdom of such a choice if they understand it offers an income stream and protects the principal from creditors/predators.

Re: modification of trust, after death?!?!

In order to best address the issues presented in your inquiry, our office would be happy to provide you with a free 30 minute telephone consultation. Please feel free to contact our office, toll free, at 1.877.MOHEBAN. Ask for Vandy Moheban, Esq. www.lmapc.com

Re: modification of trust, after death?!?!

The terms of the trust may have provisions which discuss what you are seeking, and the laws of your particular state may also provide guidance. Please seek legal counsel to determine what your options are for your particular circumstance. -- Linda