Legal Question in Wills and Trusts in California

Hi! My parents currently have a trust in which they are 50/50 in regards to be trustees and ownership. My older brother has POA over my father since he has Alzheimers. When both my parents pass, the will says that my brother and I will, like my folks, will be 50/50 trustees of the trust. I have questions as to how this works and my mother is no help! Will trustee relationship be akin to having a joint checking account with my brother. I love my brother very much but I don't feel comfortable going through life with "big brother" (literally and figuratively!) looking over my shoulder every time I make a withdrawal! I also have concerns regarding my brothers girlfriend whom he has mentioned about possibly marrying! In that case, would the trust then be split 3 ways instead of 2? And what if in the future he gets divorced? I don't mean to sound morbid but we all know that no pre-nup (which he does not have yet) is iron clad! Would she then be entitled to my share of the money as well? Any info you can give me would be appreciated! Thanks!

Nancy Greenfield


Asked on 7/10/15, 7:30 pm

1 Answer from Attorneys
Michele Cusack Pollak & Cusack

We can't answer your question about how it "works" without seeing the terms of the trust instrument. Most living trusts are intended to terminate and distribute all assets within a few months to a year after the death of both trustors, and if that is the case with your parents' trust, you will only have to cooperate with your brother during the period of administration. If your parents' trust does continue for the benefit of you and your brother after their death, the good news is that the principal is probably protected from being commingled with spouses. As far as what distributions you would receive and whether your brother's agreement would be necessary, that also depends on the terms of the instrument, i.e. whether timing and amount of such distributions are mandatory or at the discretion of the trustees. You can ask your mother for a copy of the trust and have your own attorney review it, but you are not legally entitled to receive a copy until either one or both of your parents (again, depending on the terms) have died.

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Answered on 7/11/15, 10:28 am


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