Legal Question in Wills and Trusts in New Jersey
Man passes away.
His will calls for a testamentary trust.
His wife is executor of his estate.
His two sons are to be trustees of the trust and his wife is the beneficiary of the trust.
Upon death of his wife, his two sons are to inherit the remainder of the estate.
Now can his wife and two sons decide that they don't want to create a testamentary trust and can they decide to give all estate assets to his wife who is the main beneficiary of the will?
1 Answer from Attorneys
They may be able to, but that doesn't mean they should. There are usually reasons for creating trust, if the man was properly advised when he had the will prepared.
There are several reasons why terminating the trust would negatively impact the wife as well as the family.
The family should definitely consult with a lawyer experienced in tax and in elder law issues before taking any action.
This response is not legal advice, since I do not have all of the information that would be required, and I do not have a representation agreement with you.
* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.
* Another reason for contacting a lawyer is that it is often impossible to give a good answer in the Internet Q&A format without having more information. The unique circumstances of your situation and things that you may not have thought to mention in your question may completely change the answer. If you want to be sure that you have a complete answer to your question and an understanding of what that answer means, establish a connection with a lawyer who practices in the area of your concern.
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