Legal Question in Family Law in California

Irrevocable Trust

I am engaged to be married to a man

who has considerably more wealth

and financial value than me. He has

an irrevocable trust in his grown

daughters' names. He wants to use

that as the down payment on the

house we will buy before marriage.

His lawyer has advised him to keep

the house in his and his daughters'

names (my name would not be). I

am very bothered by this. He claims

that I'd be protected if he died. But it

feels wrong to me. What if he dies. I

will be living in his daughters' house.

I feel as his wife, we should share

ownership and own the house

together. The daughters will inherit

their portion when I die if I outlive

him. Does this sound wrong to you?


Asked on 6/03/09, 9:48 am

1 Answer from Attorneys
Colin Greene Russakow, Greene & Tan, LLP

Re: Irrevocable Trust

I can't comment on whether it's right or wrong, but your instinct is correct, if your name is not on the property and he dies, you are at the whim of his daughters. Beyond that, even if he puts you on title and puts his daughters on title as well, you may have an issue with his daughters as co-owners after his death, as they can force a sale or buy out.

I don't know obviously how the irrevocable trust is written, but I believe what you could do to ensure your future is to at least be given a "life estate" in the property, permitting you its use until your death, then it can pass to the daughters.

Read more
Answered on 6/03/09, 10:08 am


Related Questions & Answers

More Family Law, Divorce, Child Custody and Adoption questions and answers in California