Legal Question in Wills and Trusts in California
declaration of trust
Hello- I have been named a trustee in a declaration of trust by my neighbors. We have been friends for years, and they are elderly with no family left, and never having any children, they wanted me to have their estate. The reason for this is I am the only person whom visits, takes them to lunch, cleans their home,washes clothes, picks up prescriptions, takes them to the grocery store, etc. Now the 86 year old woman broke her hip, and is now home but unable to motivate as usual, and he is 87 with alzheimers. The lady would like to go to a retirement center and live out their remaining days with a alzheimers unit available, and they want me to rent their house, and then once they pass she said it would be mine.They have a substantial amount of money in a money market, and a considerable monthly annuity, so what happens if they live years in this home and deplete their savings, will the state take the house, or what could happen. THE DECLARATION OF TRUST leaves me solely all their assets, house, new car, house contensts, savings, insurance policies, etc., however I am concerned?
Can you help? Thank you so much.
2 Answers from Attorneys
Re: declaration of trust
Absolutely, I'm not sure what kind of help you need but I have been dealing in elder law, trust and a state law, probate for over 30 years and would be more than happy to talk with you. Please call me at 925 -- 945 -- 6000 anytime so I can find out the areas in which you need advice and what specifically you would want me to do to aid you.
Re: declaration of trust
You state that you are the trustee. Do you know that you are also the sole beneficiary of the trust?
Under the California Probate Code, a care custodian is disqualified from receiving property unless there is compliance with certain requirements.
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