Legal Question in Wills and Trusts in Florida
Hello, in the trust papers for my parents is written after the death of the second parents death, distribution is as follows: first item (a) the property where I reside at will be given to me. Before she passed my wife and I took out a loan on the house to transfer it into our name. The loan just paid off a loan in my parents name which my wife and I have been paying on for twenty years. My question is upon her death should I have received funds to pay off the loan, it does not make sense to leave a bill to me. A reasonable person would EXPECT funds to pay off loan. The trustee has not abided by the Trust distribution portions written for any of my siblings or myself. The trustee is oldest child, everything else in trust is governed by (b) section for distribution, to her and three others.
2 Answers from Attorneys
You need an attorney to review the actual papers. it is impossible to answer this type of question without seeing the entire document or documents.
If the property was deeded to you before the 2nd death-the provisions in the trust do not apply and the trust has no obligation to pay off your loan.
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