Customer: My name: ***** *****
JA: Thanks. Can you give me any more details about your issue?
Customer: I live in California. How do I cancel the trusts. When the trusts were created, I didn't know that when my husband died, that his trust would be irrevocable. The assets total around $4,500,000. I didn't know that I wouldn't need a trust for assets of that amount. Now I'm supposed to put 1/2 of the estate
in the irrevocable trust. If I put the house in it (worth about $2 million), I can't get a line of credit or refinance it if there is an emergency such as an earthquake. That leaves the assets in the IRA's, etc. If I put those assets in the irrevocable trust, I won't be free to live on the assets. How do I cancel the trusts?
JA: OK got it. Last thing — JustAnswer charges a fee (generally around $18) to post your type of question to Estate Law Experts (you only pay if satisfied). There are a couple customers ahead of you. Are you willing to wait a bit?
JA: OK. Now I'm going to take you to a page to place a secure deposit with JustAnswer. Don't worry, this chat is saved. After that, we will finish helping you.