Trusts Legal Questions

As trustee, not executor, you are in control of the trust's assets.  What are the trust assets?  Are there any financial accounts or real property in the trust's name?  If so, you should have no problems accessing the cash by showing the financial institution the trust agreement.  They will let you know what else you need to show them.  As to real property, you should be able to sell it if need be.  Please call to discuss the matter further.... Read More

Hello Linda, The cost of a trust can vary significantly from attorney to attorney.  I would caution you not to choose your attorney based on cost alone.  When dealing with an estate mistakes can be very costly and it's important to ensure you work with someone who understands estate planning and implications to other areas of law, such as taxes. As to your question about a Will v. Trust, this will require a more detailed analysis of your family's situation and goals.  Trust can be a great tool to help an estate avoid probate, remain private and be administered easier and more quickly.  However, not everyone needs a Trust.  I suggest sitting down with an estate planning attorney to go through your situation and give you some advice.... Read More

Generally, trusts have an Article that addresses the issue of what a trustee would do if distributing to Minors (or Incompetents): ARTICLE EIGHTH - Minors or Incompetents. For example, it may say, in part, something like this: Trustee, in the sole discretion of the Trustee and without authorization of any court, may pay or distribute the whole or any part of such income or principal to such minor or incompetent personally or may apply the whole or any part thereof directly to the health, education, maintenance or support of such minor or incompetent, or may pay or distribute the whole or any part thereof to the guardian, committee, conservator or other legal representatives. The Article can also say, in part, something like this: The Trustee, in the sole discretion of the Trustee, may defer payment or distribution of any or all income or principal to which a minor may be entitled until such minor shall attain the age of twenty-one (21) years, or to make such payment or distribution at any time and from time to time, during the minority of such minor, holding the whole or the undistributed portion thereof as a separate fund vested in such minor...With such an Article, the trustee can open a bank account for the minor or minors as a trust fund under the terms of the existing trust. Generally, the accounts would have the name of the (successor) trustee of the original trust FBO of the minor. So, the account could be named something like Jane Doe as trustee of the Jack Doe trust for the benefit of Jimmy Doe. For your situation, you may want an attorney to review the trust's terms for you to determine the best way to proceed.... Read More

Hello Scott.  The answer really depends on what you're concerns are, and the status of any outstanding obligations.  Generally speaking, a living trust does not protect assets, however, there may be other options available to you, including the use of an irrevocable trust. You also need to take into consideration the Ohio fraudulent transfer Act. (Ohio Revised Code Ch. 1336).  I suggest you meet with an elder law attorney locally to take a closer look at your situation. ... Read More

If you are on any form of public benefits (Medi-Cal or SSI, for example), you had to inform them when the trust was funded. You should get a letter from your brother stating that the trust has run out of money. You would give a copy of that to your social worker at your next re-determination. If you're not on public benefits, then there's no one who needs to do anything when the trust runs out of money.... Read More

This is not an estates question. This is really a landlord-tenant question. In California you were a tenant in the house if you had your belongings there and received your mail there. I suggest you re-post in that section. I believe that you may have given up some rights when you voluntarily left without being evicted, but please, please, check that with someone who does landlord-tenant law. A landlord also has obligations to store a tenant's belongings for a period after they leave.... Read More

Disability is not means-tested. Medi-Cal is means-tested. Being means-tested means that you can't (in most cases) have more than $2,000. I say "in most cases", because there's also MAGI Medi-Cal, which is based only on your income, not your assets. To be cautious, assume your Medi-Cal is means-tested, and get the inheritance out of your bank account ASAP. It costs $2500-3500 for an attorney to draft a special needs trust. Because of that, we hesitate to do a special needs trust for that amount of inheritance. You could do a spend-down: paying for things that wouldn't affect your Medi-Cal. You could upgrade your car, pay for car insurance, pre-pay several months of call phone service and/or cable TV, pay off a credit card if you have one, buy a better bed or recliner. Because you're on disability, not SSI, you could also pre-pay some rent or utilities expenses. If we weren't stuck at home due to Covid, you could even go on a vacation.... Read More

I do not understand the question and need more information. The will has to be witnessed by two people in the presence of each other. A self proving affidavit should be attached and notarized to avoid having the witnesses appear in court.  Please contact me if you have any questions at sgarciavidal@garciavidallaw.com.      ... Read More

A trust is controlled by the terms of the document that creates it; there's no such thing as a standard trust that is spelled out in the law. What that means is that no one can tell you what kinds of distributions are permitted from your child's trust without actually seeing the trust document. In general, it would be fairly common for a trust for a person to allow for something like the purchase of a car for that person; but that does not mean that your child's trust permits that kind of distribution. Find an attorney who is experienced with trusts and have that attorney review the document that controls the trust. That's going to be the only way you can actually know what it allows. Best wishes to you and your child.... Read More

Generally, no, that isn't legal. If there are probate assets remaining after payment of all estate bills and debts, those assets should be divided according to the Will. However, there are some details regarding your mother's estate that may change what you are entitled to (ie: non-probate assets). I would advise you speak with a probate attorney as soon as possible.... Read More

Mr. Watkins, Hopefully I can provide some insight regarding the termination of the trust. As trustee, you would generally have a couple of options.  First, if this is a private trust, then the settlor may be able to terminate the trust as long as the instrument itself does not state it is irrevocable, and the settlor complies with any provisions that were written into the trust regarding the procedure of carrying out the action. If not done by the settlor, then there's a chance the court may terminate the trust if you, as the trustee, request they do so.  Usually, the court will only grant the request to terminate a trust if the termination would not be inconsistent with the settlor's intent, or if the termination is in the best interests of the beneficiaries. Based on the sparse details provided here, that is all the insight I can provide.  If you need a more detailed answer, please let me know more of the specifics surrounding your situation.  Thank you, and best of luck!... Read More