Legal Question in Wills and Trusts in California
This is regarding a trust created in California. My father�s trust named his five children as beneficiaries. It also stated if any of his married children died before the trust closed their spouse would become the beneficiary. If both are deceased, their children would become the beneficiaries of his share. I am the trustee.
Before my father passed one of my married brothers passed away so his wife Mary (my sister-in-law) became the beneficiary in his place. My father died in July 2011 and Mary died the following December before the trust was completed.
Mary and my brother have six adult children. The six children are now going to receive my brothers share of the estate (one-sixth each). The problem is that one of the kids says he does not want to be a beneficiary. He has isolated himself from his family for the past several years. We do know his address, phone # and place of employment. Several of his siblings and I have tried reaching out to him to accept the money because that�s what Grandpa would have wanted. But, to date, he has refused.
My question is what is required legally to remove him as a beneficiary? Even if he does not accept any money will he have any tax obligations? His share would be around $50,000? We want him to accept the money. Can we setup a bank account with the money in case he changes his mind at a later date?
Thank you for your time � it�s much appreciated. There�s not a lot of information out there regarding this situation � who doesn�t want money!
TJ
2 Answers from Attorneys
If a beneficiary chooses to decline a gift, that is his/her option. You cannot force the gift upon the beneficiary. The proper method to decline the gift is for the beneficiary to sign a declination of gift. The monies can then be disburse equally to the remaining siblings.
Please feel free to contact my office for additional assistance.
Your story is a little sketchy. Either you have contact with him and he declines his gift, or you don't know where he is to find out if he declines his gift. There are two different results and two different pieces of legal advice depending on whether you have actually contacted him and know his whereabouts.
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