Legal Question in Wills and Trusts in California
Items included in trust estate
Parents created revocable living trust in 1996 transferring typical assets such as property (real estate, vehicles, etc); investments, life insurance policies into trust estate.
Father dies in 1999; and days afterwards, my sister and mother take out a $5K life insurance policy on my mother; naming my sister as beneficiary.
***should this policy be considered an asset of the trust, and subject to distribution?
Asked on 11/01/05, 2:47 am
1 Answer from Attorneys
Donald Field
Donald L. Field, Jr., Attorney at Law
Re: Items included in trust estate
this depends upon the language of the trust, the source of the funds and the type of life insurance.
Answered on 11/03/05, 7:14 am
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