Legal Question in Wills and Trusts in California

A trust that was under funded a dod. can it be funded at a later date. say 2 years later.

or is it under funded forever.

ie..... dad passed - his 706 should have had $600k funding at that time. (20 yrs ago) His 706 said $510k so 2-3 years later $90k was placed in his trust making it $600k fully funded so I thought.

The attorney for one of the beneficiaries is claiming the $90k does not count. And

it is a dod insult resulting in another $90k + interest should go into dads trust.. He then filed a 706 with an extra $400k moved over to dads bypass trust making it not taxable based on $90k + interest.

Then is his tax returns all wrong?

Does he own income tax.

And what about moms trust that was damaged by the $90k + interest. (per his will all new income went to her.

And moms trust is damaged first for the original $90k, now another $90k and interest she lost over the 20 years twice.

Is this correct?

The IRS just started an audit.


Asked on 6/07/12, 2:51 pm

1 Answer from Attorneys
Kurt Seidler Law Offices of Kurt A. Seidler APC

go see an attorney and a CPA ASAP.

Read more
Answered on 7/02/12, 3:06 pm


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