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Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 23138
Experience:  14 yrs estate law, real estate. Wills/Trusts/Probate
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Original trust distributed antique collection to son. In Amended

Resolved Question:

Original trust distributed antique collection to son. In Amended Trust the collection was stated as sold and removed from the trust. Prior to the death of the trustor, the sale had not gone through, and after the death the potential buyer declined the purchase. Does the antique collection go back to the original Trust?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Barrister replied 1 year ago.
Hello and welcome! My name is XXXXX XXXXX I will try my level best to help with your situation or get you to someone who can.
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Does the antique collection go back to the original Trust?
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Once the original trust was amended, it would have removed the gift of the antiques to son. It was apparently the intention of the grantor to cancel the gift of the antiques to son via the amendment. If the antiques were to be sold and the proceeds deposited into the trust, then I would opine that the antiques would go back into the trust and would pass to whoever the residuary beneficiary of the trust is once all specific distributions were made.
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Thanks
Barrister
Customer: replied 1 year ago.


In response to your answer, the antiques were not to be sold for the purpose of putting the funds back into the trust, but were for the sole benefit of the decedent while he was alive. He had cancer and knew he was dying at the time. He passed before the deal actually happened.

Expert:  Barrister replied 1 year ago.
Ok, but the point is that whether they were sold or not, the amended trust cancelled the gift to son. Once a trust is amended, it is the document that controls. Things never revert back to the original trust unless the grantor actually executes a new amendment stating that all previous amendments are null and void. Then it would revert back to the original trust.
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So whether he sold the antiques and spent the money, sold them and put the money in his personal bank account, or didn't sell them at all, the gift to son would be terminated.
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The only question woud be whether they were in the trust or out of the trust. If the amendment stated that they were to be removed from the trust and sold, then I would revise my previous statements by saying once something is legally removed from the trust, it reverts back to the grantor personally. So if this is the case, then the antiques would be out of the trust and be the personal property of the deceased and would pass according to their will or by default state law to their heirs at law.
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Thanks
Barrister
Barrister, Attorney
Category: Estate Law
Satisfied Customers: 23138
Experience: 14 yrs estate law, real estate. Wills/Trusts/Probate
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