Thread: Greedy sibling

My moms trust gave nothing to the grandchildren if a child passed first but would be divided among the living siblings.The bulk of the trust was left to me. (Just easier). There were certain things not spelled out but she told me what to do with them and I followed her wishes.

Me

Originally Posted by Kelsey1224

One has to understand that inheritance tax and trust laws vary from state to state. This is not true of trusts in California. If one of the surviving trustees passes away, that portion of the trust does not automatically go to the children of the deceased party. It has to be spelled out in the trust if this is the intent. This wasn't originally stated in my in-laws trust...which they got from one of those places which produces boilerplate trust documents. We had to have the trust document amended to include this provision, as well as several others.

My hubby and I had our trust created last year. We had to spell out everything very specifically as to the transition and division of our assets after our death via the trust. It was worth every penny it cost to have it done. I call it my peace of mind document.

Originally Posted by hblueeyes

My moms trust gave nothing to the grandchildren if a child passed first but would be divided among the living siblings.The bulk of the trust was left to me. (Just easier). There were certain things not spelled out but she told me what to do with them and I followed her wishes. Gosh the stuff you learn on BBF.

Me

Good info about siblings passing and trusts. I called my bosses attorney to ask him about this and Florida is the same way unless you put it in specifically it will go to the surviving siblings only. I called my boss and his wife and informed them of this and they are changing their trust wording so that their grandchildren would not be excluded if their Mom had passed first.