Legal Question in Wills and Trusts in California
Trust Disclaimer or Termination
Although it has been nearly 10 years ago since my father�s death, the sale of the California real estate property just occurred and the interest will fund three separate trust accounts. Can I, as a trust beneficiary, petition the court for a trust disclaimer, or should I file a sub-trust termination with the intention that the interest bypass me and proceed directly to my daughter?
2 Answers from Attorneys
Re: Trust Disclaimer or Termination
As the last responder stated, there are a number of issues someone needs to discuss with you. There are potential tax considerations with skipping a generation, as well as administrative issues about how the trust directs the funds. I would suggest contacting the attorney who handled the trust administration in the first place, since he is probably most familiar with the trust in question.
Re: Trust Disclaimer or Termination
Your question is a complex one that has several issues that must be addressed. I don't suggest the trust disclaimer. I do suggest consulting with counsel for a couple of hours or so to review your trust documentation. Otherwise, an adequate response will be difficult.
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