Legal Question in Wills and Trusts in California
I do not want my current husband to take any money from a law suit I received and have in CD's for my child. I have liver failure and will not be here long. how acn i protect her inheritance?
3 Answers from Attorneys
You should set up a trust for your child and name another family member as a trustee. The trust can set up how the money is to be handled and you can insure that none of your separate property goes to your husband.
I am sorry to hear of your liver failure. A trust is probably the best vehicle. However, there are different types of trusts and there MANY different ways to set them up. A good starting point is thinking about who you know that is trustworthy enough to be the trustee. I encouage you to work with an attorney, in your area, who is a Certified Specialist in Estate Planning, Trust, and Probate law. -John
P.S. I have an office in Roseville at Douglas and Eureka. I am generally there Tuesdays and Fridays.
I disagree with the two previous answers. It depends on the nature of the lawsuit. You don't tell us the nature of the lawsuit, so it is not clear whether the money would be considered community property. One spouse cannot make a gift of community property to herself, and a divorce court would order any trust to reimburse the community. I'd start with that point of analysis, first.