Legal Question in Tax Law in California
Inheritance tax and trusts
My grandmother passed away, leaving the contents of her trust to be divided among her children and grandchildren. The trust executer advised each of us to talk to a lawyer about our inheritance and setting up our own individual trusts. Why do I need a trust?
Asked on 7/01/08, 9:32 pm
1 Answer from Attorneys
Donald Field
Donald L. Field, Jr., Attorney at Law
Re: Inheritance tax and trusts
you would not normally need a trust simply to receive an inheritance. however, your grandmother's trust (or will) may require that subtrusts be created at her death. to determine this (and otherwise ensure that the trustee [or executor] follows the trust [or will]), a copy of the trust agreement and any amendments [or will] must be reviewed.
Answered on 7/05/08, 10:42 am
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