QUESTION
I want to create a solution to my wife can receive investment income until she dies, then the investments go to specified charities.
Asked on Jun 13th, 2017 on Trusts and Estates - California
More details to this question:
Net worth approximately 4 million, mostly in financial assets and a home. I am 71. Except for my wife (we are married 9 years) I have no family. Parents are deceased, no siblings, one previous marriage, all issues resolved by divorce, no chidren. Haven't spoken to any relatives (cousins) in 6 years. I'm thinking of a revocable trust with my wife as the beneficiary and a successor trustee institution to distribute income on a monthly basis and disburse remaining assets after her demise.
1 ANSWER
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To do this, you would set up a trust for your wife's benefit and then the remainder would go to the charities. Contact an attorney for a full consutlation.
Answered on Jun 14th, 2017 at 1:35 PM