Legal Question in Wills and Trusts in California
Sole Successor
My father-in-law recently passed. My sister-in-law had papers drawn up the state she is the sole successor Trustee for a 1997 revocable living trust. Does this mean my husband is no longer in the will and his sister is the solitary heir?
3 Answers from Attorneys
Re: Sole Successor
No, it means your sister-in-law is the person administrating the trust and carrying out its terms.
Re: Sole Successor
The trustee is the person who carries out the terms of the trust, and is not necessarily the beneficiary. Changing the trustee does not affect the distribution provisions of a trust. These provisions would be in place unless separately amended.
Re: Sole Successor
No. The trust will only impact assets actually owned in trust, which may not constitute all assets. Also, your husband is entitled to a copy of the Trust Agreement. The Trustee is only the person charged with mananging and ultimately distributing the assets in the trust. The trustee must follow the instructions in the trust document.
Talk to a lawyer about assisting in the protection of your husband's rights. Also, for your own planning, to better understand what is happening now, and for future reference, read "Create Your Legacy & Save the American Middle Class", a short book written in plain English that explains all of this. You can access the book on www.yourlivinglegacy.info.
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