Legal Question in Wills and Trusts in California

My parents have a Revocable A/B Trust, my dad passed and my mom is dying. I don't know what type of Trust I will need? I am married but not to my adilt children's father and my adult children will be the only ones to inheirt from me, not my husband. I become the Trustee after my mom passes. I want to protect all my inheirtance from my husband and my step-daughter as my part of the estate is valued at 2 million. My husband and I share nothing together, even my house is in my parent's trust. Just don't know what type of Trust I will need. Thanks

Asked on 2/22/11, 9:13 am

5 Answers from Attorneys

Michele Cusack Pollak & Cusack

Even though you are married, you should probably go to a lawyer without your husband and establish your own living trust as sole Trustor (aka grantor or settlor) and Trustee. The A/B type trust is for when you want to leave everything to your spouse for life, but want to make sure your share of what's left when the second spouse dies goes to your kids (or other beneficiaries.) It used to have estate tax advantages too, but the new law makes that irrelevant for most couples.

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Answered on 2/22/11, 9:20 am

Kurt Seidler Law Offices of Kurt A. Seidler APC

What Michele said.

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Answered on 2/22/11, 9:54 am
Eliz. C. A. Johnson Eliz. C. A. Johnson

Keep in mind too that your inheritance is separate property, not community so take care to not mingle those assets with community property, if there is any. See an attorney today.



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Answered on 2/22/11, 11:12 am
Frankie Woo Fiducia Legal

I might add that even though your interest in parents trust estate has not vested yet, you can still put it in your separate trust.

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Answered on 2/22/11, 11:19 am
Jonathan Reich De Castro, West, Chodorow, Glickfeld & Nass, Inc.

You should have your own revocable trust, the terms of which will depend on what you what and how you want to do with your assets. The best way to start this process is to sit down with an attorney who can explain all of your options to you. Please feel free to give me a call if you want to set up a meeting.

Jon Reich


IMPORTANT NOTICE: The above response is not intended to, and does not, create an attorney-client, fiduciary or other confidential relationship with the responder. Neither does it constitute the providing of legal advice or services or the giving of a legal opinion by the responder. Such a relationship can only be created, and legal advice and/or legal services provided, pursuant to a written agreement with the responder. Accordingly, no obligations of any kind are assumed with respect to any matter or question presented. It should also be noted that legal issues are often time sensitive and legal rights may be lost or compromised if you do not act in a timely fashion.

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Answered on 2/23/11, 11:29 am

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