Legal Question in Wills and Trusts in California
When dad set up his trust we asked for a safe place to keep the money. The attorney set up a revocable living trust and made us (children) the annuitant. We didn't understand what that meant. We expected to be the beneficiaries and to our surprise we are not. Is there anything we can do to change that??
2 Answers from Attorneys
You should have asked the attorney what it meant. The trust can be changed but once an annunity is purchased you normally can not cancel that. You are , however, the beneficiaries of the annunity. Contact the attorney and see what can be done.
Your dad can change the trust at any time. If he has already passed away, then you would have to prove to a court by a preponderance of the evidence that the attorney did not do what your father wanted and your father did not understand what the attorney did. VERY hard to do.
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