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I am trustee of a now irrevocable trust (settlor died). She left all proceeds from the sale of her home to daughter - 1st request. 2nd & 3rd small gifts to relatives. 4th was to son to get 10% or remaining funds. Problem: there were NO remaining funds. So I assume the son gets nothing? Does he legally have to be notified since he is not really a beneficiary since the trust is out of money?
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Estate Litigation Attorney serving Redlands, CA
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At all times, you have to abide by the wishes of the trustor (the person creating the trust). If you give the specific gifts and then there is no more property or money to give to the remainderman (the son) then he doesn't get anything. Read the dispositive provisions again to see if you can determine the wishes of the trustor.
Answered on Nov 14th, 2015 at 1:25 PM