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ScottyMacEsq
ScottyMacEsq, Attorney
Category: Estate Law
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Experience:  Licensed Texas General Practice Attorney
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i have a stock account in trust for person A My will leaves

Customer Question

i have a stock account in trust for person A My will leaves that stock account to persons A,B,C,D when i pass away and person A gets a lawyer and try to keep all of the money who has the rights?
Submitted: 1 year ago.
Category: Estate Law
Expert:  ScottyMacEsq replied 1 year ago.

ScottyMacEsq :

Thank you for using JustAnswer. I am researching your issue and will respond shortly.

ScottyMacEsq :

Frankly it depends on the terms of the trust. If the trust itself continues or says that the property will pass to A, then the trust will control. If the trust dissolves and the assets of the trust go back to the settlor (the individual that put the assets in the trust) then it would go to your estate, and the will would control. Now if it is a trust that does not survive your life and explicitly terminates, with the assets going back to your estate, this provision in the will is valid. But if you do not have an asset in your estate at the time of your death, then that provision in the will is not enforceable.

ScottyMacEsq :

So in short, it really depends on what the trust itself says. If it continues or is paid out to the beneficiary, A would get it all. If it reverts to the estate, then A, B, C, and D would share it per the will.

ScottyMacEsq :

Hope that clears things up a bit. If you have any other questions, please let me know. If not, and you have not yet, please rate my answer AND press the "submit" button, if applicable. Please note that I don't get any credit for my answer unless and until you rate it a 3, 4, 5 (good or better). Thank you, XXXXX XXXXX luck to you!

Customer:

My father has a stock acct itf for person A in the will it has beneficary a b c d 25% ea i read that whats in the acct trumps the will i dont have access to will b c d are not on the acct i try to get him to put all 4 in the acct he wont liston to me if it came to a court battle i said so and hearsay dont mean anything

ScottyMacEsq, Attorney
Category: Estate Law
Satisfied Customers: 11779
Experience: Licensed Texas General Practice Attorney
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