Legal Question in Wills and Trusts in California

My late husband and I established a living trust. The trust directs the surviving spouse to divide trust assets between the Survivor's Trust and Irrevocable Bypass Trust, however, at the time of my husband's death, there were no assets in our names as Trustees or that would be subject to my husband's pour-over will. Our house and bank accounts all in Joint Tenancy. My husband had one investment account in his name only which listed me as beneficiary. Can I put everything in the Survivor's Trust? (There is no tax reason for Bypass.) If not, do I have to pay a lawyer to send Trustee notices to the 15 children and grandchildren who will be beneficiaries after I die? We each had children from a previous marriage, but I have no intention of disinheriting any of them.


Asked on 1/10/17, 10:51 am

1 Answer from Attorneys
Aaron Feldman Feldman Law Group

You should meet with a lawyer and go over everything in greater detail. Since the trust was never funded the Bypass Trust should not have any reason to exist. However, I also think funding the Survivor's Trust creates more confusion because it will invite people to wonder what happened with the Bypass Trust? I would think it would be much cleaner to start fresh with a new trust for just you. You may want to communicate with your children and your husband's children about what you are doing to have full transparency, but it is not required.

Read more
Answered on 1/10/17, 11:29 am


Related Questions & Answers

More Probate, Trusts, Wills & Estates questions and answers in California