Legal Question in Wills and Trusts in California
Trust & Wills
Hello
My dad and his two sisters are all listed as trust beneficiaries of my late grandma's trust. My aunt was named the successor trustee. Most of everything in the trust has been settled except one piece of family property that is on the market now. My dad is worried that if he were to pass away, his sisters would then split what is left instead of his portion going to his wife or children. We thought that it would automatically go to his family or that a will stating his wishes would suffice. He spoke to a lawyer that said his sisters will be able to do whatever they want and there is no way to change that or to force the sisters to settle the trust now. We live in California. I believe that the part of the trust that says if a beneficiary were to die prior to my grandma, then her trust would be split between the remaining beneficiaries. we are getting separate information now though on whether that would still happen now that my grandma has passed. Does a will suffice in this situation? Or is the new lawyers correct in the fact the the trust needs to be completely settled now. What happens to a beneficiaries portion if they were to pass, after the intial settlor, but before the entire trust has been divided?
3 Answers from Attorneys
Re: Trust & Wills
Usually the Trust will provide what occurs if one of the beneficary dies, and by how long they have to oulive the trustor, typically 6 months.
Re: Trust & Wills
It depends on the terms of the trust. If your father's right to receive his distribution has already vested, then it will go to his estate. If not, it stays in the trust and gets distributed to others. I can review the trust and give you a more definitative answer. I might be able to give you advice on how to expidite distribution. The fee for that service is $375. Call me if you're interested.
Re: Trust & Wills
Likely, your dad's share would pass to your dad's estate and be distributed according to his wishes as set forth in his will.
With respect to the family property that remains on the market, there may be steps that can be taken now to force the issue with the successor trustee and make sure she is acting in the best interests of the trust and all of its beneficaries.
Please call my office if you want to discuss this matter further.
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