Legal Question in Wills and Trusts in California
Trust Disclaimer or Termination
Although it has been nearly 10 years ago since my father’s death, the sale of the California real estate property just occurred and the interest will fund three separate trust accounts. Can I, as a trust beneficiary, petition the court for a trust disclaimer, or should I file a sub-trust termination with the intention that the interest bypass me and proceed directly to my daughter?
2 Answers from Attorneys
Re: Trust Disclaimer or Termination
As the last responder stated, there are a number of issues someone needs to discuss with you. There are potential tax considerations with skipping a generation, as well as administrative issues about how the trust directs the funds. I would suggest contacting the attorney who handled the trust administration in the first place, since he is probably most familiar with the trust in question.
Re: Trust Disclaimer or Termination
Your question is a complex one that has several issues that must be addressed. I don't suggest the trust disclaimer. I do suggest consulting with counsel for a couple of hours or so to review your trust documentation. Otherwise, an adequate response will be difficult.
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