My elderly parents have a living trust. They are being paid $400/month to pay off $200,000 that they loaned someone. How do they assure that it continues to be paid after they die?
|
Read More Answered By: J. Caleb Donner |
Assuming that the loan has been assigned to the Trustee of their living trust, the successor Trustee (following their deaths) should be able to continue to receive the funds.
However, there should be a written assignment of the loan to the Trustee with notice to the debtor.
Also, I would first want to see the loan document itself prior to assigning rights to the Trustee.
Let me know if you want to talk about this.
Caleb
DISCLAIMER This reply constitutes legal information for education purposes and does NOT constitute legal advice nor establish an attorney-client relationship. We will only represent you based on a written retainer agreement. Therefore, you should contact this office to discuss representation if you do want legal advice/representation.
|
Walnut Creek, CA
Questions Answered: 10416
Last Question Aswered on: 2012-05-26
San Francisco, CA
Questions Answered: 6348
Last Question Aswered on: 2012-05-26
Union City, CA
Questions Answered: 6114
Last Question Aswered on: 2012-05-15
Tarzana, CA
Questions Answered: 5434
Last Question Aswered on: 2012-05-16
San Diego And Las Vegas, CA
Questions Answered: 2000
Last Question Aswered on: 2012-05-18
Fountain Valley, CA
Questions Answered: 1776
Last Question Aswered on: 2009-04-15
Ontario, CA
Questions Answered: 1584
Last Question Aswered on: 2010-12-04
Las Vegas, NV
Questions Answered: 1456
Last Question Aswered on: 2012-05-25
San Francisco, CA
Questions Answered: 1146
Last Question Aswered on: 2012-01-03
Los Angeles, CA
Questions Answered: 1120
Last Question Aswered on: 2010-02-19
► My father died in 2005. Just before his death, an addendum was added to the last...
► My mother is receiving ss, ssi, medical and medicare and will be receiving an...
► There is a trust written and was read after my poppy passed. Sister in law and...
► My mother recently passed away without a will, I recieved a letter from my step...
► I want copies of my Dad's closed bank statements, he is deceased. I was one of...
► My mother was diagnosed with Dementia 3 yrs ago. What forms do I need to have...
► What procedure is required to transfer real estate from a living trust to a...
More Probate, Trusts, Wills & Estates questions and answers in California| Bill of Sale | Living Will |
| Contracts | Notices |
| Divorce | Power of Attorney |
| Employment | Quitclaim Deeds |
| Landlord & Tenant | Real Estate |
| Leases & Rentals | Sales and Purchases |
| Letters | Wills |
| Living Trusts | More... |
© WebsiteBroker, Inc.
LawGuru.com | Advertise on LawGuru | Affiliate Program | Privacy | About Us | Press
