Legal Question in Wills and Trusts in California
Living Trust
I would like to leave my trustee whatever assets is left in my trust. Do I have to leave a written document to this effect or will she be able to take care of my final expense and simply have the balance. I do have one son who is not entitled to anything. Do I need to list her as beneficiary on my bank accounts that are in the trust or will she automatically have access by virtue of being the trustee
2 Answers from Attorneys
Re: Living Trust
A Trustee does not have any automatic rights to the "remaining" funds in your estate. You need to specifically gift the remainder to your trustee as a beneficiary (sounds like primary beneficiary) if you want them to recieve anything. If you do not want your son to take from your estate you need to specifically state as such in the trust and in your will, or else they may be eligible to take under omitted child statutes. It sounds like you might want to hire a local attorney to handle this one.
Re: Living Trust
The trustee is not lawfully entitled to keep the assets in the trust, unless the trustee is also the beneficiary. A separate gift instrument would be needed to effectuate your intent herein legally. You should retain legal counsel ASAP to help you do what you are intending here the right way.
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