Legal Question in Wills and Trusts in California
Irrevocable Living Trust
A couple man and wife had an Irrevocable Living Trust in California. The wife died and her portion of the trust was funded with assets at that time, 1993 He lives on for 15 years marries someone else recently then died 6 months ago. The new wife has not notified the executors and beneficiaries (the previous wife's grandchildren) of his death and now, 6 months later, after hearing of his death, one of those exec/beneficiaries has learned of his death and found recorded docs transferring property into a new trust created by the second wife and the grandfather.
What are the time constraints and best fastest ways to stop any further liquidation of assets that should have been in the first trust and distributed to heirs before the second wife's trust can use or liquidate such assest?
4 Answers from Attorneys
Re: Irrevocable Living Trust
you should retain a qualified attorney in the county in which the decedent lived to review the trust documents, the facts, provide you with advise, and if appropriate file a petition with the superior court quickly to attempt to avoid any further dissipation of assets to which family members may be entitled.
Re: Irrevocable Living Trust
Sorry - the facts are vague and difficult to follow. It is unclear whether "the executors and beneficiaries (the previous wife's grandchildren)" were still fiduciaries of an irrevocable trust that had ror grandchildren as beneficiaries.
If so - (same fiduciaries) - unclear how these transfers would have occurred... if fraudulent, need to commence action to set asside .. but facts are too vague right now ....
Re: Irrevocable Living Trust
Sorry - the facts are vague and difficult to follow. It is unclear whether "the executors and beneficiaries (the previous wife's grandchildren)" were still fiduciaries of an irrevocable trust that had ror grandchildren as beneficiaries.
If so - (same fiduciaries) - unclear how these transfers would have occurred... if fraudulent, need to commence action to set asside .. but facts are too vague right now ....
Re: Irrevocable Living Trust
Among other things, you would need to act right away before the property is sold to a third party innocent purchaser, you might not be able to get it back.
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