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That property should be made a part of the divorce negotiations. The attorneys should be made aware of the trust so a decision can be made between the parties or by the court as to the disposition of the property.
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∙ 14y ago
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Does a living trust supercede an executed will in California?
Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.Yes. If the property was transferred to a trust during the life of the testator then it was not in her estate when she died. It cannot pass by will.
What happens if the beneficiary of a california living trust dies before the estate is settled?
There is a disconnect here. A living trust is not related to an estate. The wording of the trust and perhaps the will associated with the individual will determine what the expectations are.
What happens to the estate of a trustee if the estate of a trust is insolvent?
The financial situation of the trustee should be irrelevent to the estate. Unless they have been embezzling funds, there isn't any effect.
What is listed in a decedent's estate when he already had an irrevocable trust?
Any property owned by the decedent in his individual capacity would be included in his estate. Any property that was transferred to a trust during life would not be included in the estate.
Can a living trust's division of real estate override a lonely recorded divorce decree of half equity upon sale or transfer of title?
No.
What does the Revocable Living Trust provide?
A revocable living trust is very similar to a living will. The owner of money or property can determine what happens to their estate after their death.
Will a will override a trust?
A person's will is intended to direct the distribution of their property after their death. Sometimes a person's assets change during life. If a person transferred property to a trust during his life that property would not become part of his estate unless some provision in the trust directed that the property should pass to the estate. Therefore a trust would "override a will" if the property mentioned in the will had already been transferred to a trust during the life of the testator.
Does a trust override a will?
A person's will is intended to direct the distribution of their property after their death. Sometimes a person's assets change during life. If a person transferred property to a trust during his life that property would not become part of his estate unless some provision in the trust directed that the property should pass to the estate. Therefore a trust would "override a will" if the property mentioned in the will had already been transferred to a trust during the life of the testator.
What happens if both primary and secondary beneficiary die. Second beneficiary had approved power of attorney to another sibling - what happens then?
A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?A Power of Attorney expires when the principal dies.As for the other queries about what happens when a beneficiary dies you haven't explained what type of beneficiary: life insurance, estate or trust?
Can a trust property be sold is there a grant of probate issued?
If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.If the property is in a trust it is not in a person's estate and it can managed or sold according to the provisions of the trust. You need to review the trust document.
If married persons executed a Living Trust with real property as an asset does their recent divorce void the Trust or must it be revoked by a document prepared by an attorney?
You must always look to the language in the trust document. A well drafted trust will spell out instructions for every issue that affects the trust estate. A trust doesn't become "voided". The property that was transferred to the trust must be transferred out by the trustee in order to pass title to the property. This issue should have been resolved at the time of the divorce. You should seek the advice of the attorney who represented you at that time.
Are the debts of a trust payable out of the trust estate?
yes
