Legal Question in Wills and Trusts in California
My relative currently live in China. He asked me to setup a living trust in California for him. Can I setup a
Name " John Wong Trust" and the grantor and trustee is not John Wong ? He wanted me to be the grantor and trustee of John Wong Trust.
2 Answers from Attorneys
Does your relative own property in California? Does he own property in China?
If so, there are complicated laws applicable to assets outside the United States.
Lastly, a living trust refers to a revocable trust containing the Grantor's assets. From what you are saying, you could be a Trustee but the property seems to belong to the relative in China. I think you need to meet with an experienced estate planning attorney, preferably one with knowledge of international laws.
I completely agree,. A trust is not just a name. You have to provide in the trust how it is operated and managed and who the beneficiaries are. What happens when John dies? What if he wants his property back. See a good estate planner with an international practice. I would suggest you consider Walter Kilmer at 213 895 4900, who may be able to assist or send you to someone local who can.
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