Legal Question in Wills and Trusts in Iowa
living trust
I come from a family of 14 children. My parents owned 300 acres of Iowa farmland. When my father passed away in 1999, 200 of those acres were given to my one brothers. Then in 2001, my mother set up a revocable trust giving the same brother the remaining 100 acres. While my mohter is alive, my brohter pays my mother $1000/month as long as she lives. I am unsure if he pays this monhtly amount or not. I have nothing but my mohter's words that my brother pays this amount. My mother will not speak about what will happen when she passes away. Can parents give all their property to one child wihtout comnpenstaion to ther remaining children? Do the remaining children have any legal venue to challenge the trust it if leaves out the remaining children? According to the family that lives around where my mohter lives, it going rate for an acres is approximatley $4,000 per acre. This is over a million dolalrs for the 300 acres. When my parentts gave my brother 200 acres, was there any type of requirement for reaqsonable valuation of the land? compenstion for other children?
Thank you for your comments.
1 Answer from Attorneys
Re: living trust
Sorry, your parents can do anything they want with their property. It may seem like it should be your property, unfortunately, you do not have any rights to it.
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