Legal Question in Wills and Trusts in Ohio
revocable living trust amendment
I am now the widow of our (no-name) family revocable living trust that I wish to write an amendment for regarding my personal residence. Do I need the amendment form for a joint or a single trust since my spouse is deceased and I am now the sole trustor? Are there any particular stipulations that I must avoid if I choose to leave my residence for a certain number of years to a grand daughter to live in, who is currently listed as a beneficiary? The trust now states that both grandchildren must reach the age of 30 before receiving any actual money benefits, However I do not want my residence sold upon my death if that particular grandchild wishes to reside in it regardless of the fact that she might not have reached the age of 30. I don't want this to change the distribution of any other assets in my estate to my daughter who is the trustee or either of the two grandchildren. There are only these 3 beneficiaries. one daughter and two grandchildren, both now in their twenties. I would like to offer her the opportunity to live here for 5 years before the sale of the house becomes distributed. The investments, etc. should remain as written.
1 Answer from Attorneys
Re: revocable living trust amendment
This trust contains a "spendthrift provision" that distributes the grandchildren's share of the estate at a time when they are supposedly mature enough to receive it. The answers to your questions have to do with the way in which the trust was written. The trust would have to be reviewed to tell you specifically what you would like to know.
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