Legal Question in Wills and Trusts in California

payment

my father died and left a trust with his second wife in charge.he has two children named in one of the trusts but we can not touch the money until the second wife dies. is it legal to ask her if she would like to buy us out of the trust- and if so what percentage of the trust value is reasonable to ask for- the trust is worth over 1 million. thank you


Asked on 3/22/06, 8:58 pm

1 Answer from Attorneys
Matthew Mickelson Law Offices of Matthew C. Mickelson

Re: payment

I assume from your question that the trust instrument -- the document that controls disposition of the assets of the trust after your father's death -- says that you won't get anything until after the second wife dies. If everyone agrees to terminate the trust, it is possible in some cases to get rid of it now and disburse the assets as the trust instrument says they should be divided in the future. Feel free to contact me if you would like to talk about this further.

Read more
Answered on 3/23/06, 1:33 pm


Related Questions & Answers

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