Legal Question in Wills and Trusts in California
if the surviving spouse does not split an AB trust as required by the trust what are the consequences? The estate is only worth about $200,000 (residence, bank accounts is about it) and no where near the death tax limits. Thanks!
Asked on 5/21/12, 11:23 am
1 Answer from Attorneys
Michele Cusack
Pollak & Cusack
Only the remainder beneficiaries can object if this is not done. Most trusts do not require a physical division of assets, so a simple declaration that the assets are divided 50/50 between the A and B trusts should be sufficient. As long as the surviving spouse does not give away or bequeath the trust assets to anyone except the original beneficiaries, there should not be a problem.
Answered on 5/21/12, 11:49 am
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