Legal Question in Wills and Trusts in California
If there was a living will and there are various funds in the living will and you are the only beneficary of one particular fund are you obligated to split that fund with any other individual?
1 Answer from Attorneys
I am not sure about the terminology of your use of the words "living will" and the questions you are asking. Living wills (oxymoron) properly known as Advance Healthcare Directives, contain directions as to your life end stage health care desires and needs, and do not contain directives as to property dispositions. If you are referring to a trust, and you are the sole beneficiary of a fund, then you are not obligated tosplit the proceeds with anyother person. The trust provisions and directives control the disposition of funds; if a multiple beneficiary trust, some beneficiaries may receive a greater share of the assets than other beneficiaries.
Related Questions & Answers
-
How do you find if a loved one had a lawyer,will or trust Asked 10/18/13, 11:25 am in United States California Probate, Trusts, Wills & Estates