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Gerald, Esq
Gerald, Esq, Lawyer
Category: Estate Law
Satisfied Customers: 3302
Experience:  30 years of experience
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Here is the issue though of termination of the trust. The

Customer Question

Here is the issue though of termination of the trust. The trust goes for 10 years, and at the 11th year is disposed of. However, If before the 10 years is up and both beneficiaries die, then the trust assets go to PETA. How can be reconciled in court when a 3rd party will probably not want to give up the potential for a windfall if both beneficiaries die.
Submitted: 9 months ago.
Category: Estate Law
Expert:  Gerald, Esq replied 9 months ago.
Hello,Thank you for the additional question. I appreciate your support. One thing that you must remember in regard to legal processe: Almost everything is negotiable. At this point PETA is looking at a potential windfall, but they may get NOTHING. So one possible solution is to offer PETA a much lesser present day contribution in exchange for them waiving the potential but not certain future gift. Certainly the actuarial calculation on the life expectancy of you and your sister can be used to demonstrate the likelihood that PETA would get anything. I hope the information I provide is useful to you. I want you to be comfortable and satisfied with my attempt to assist you. Please, if you have ANY follow up questions, feel free to ask. Please note that I am generally unavailable Friday evening through Sunday. If you are dissatisfied with my response PLEASE let me know before giving me a negative review so that I may try to be of better assistance. Or if you prefer, let me know and I can “Opt Out” and your question can be re-posted without additional cost to you. I will be fair to you and only ask the same from you.Good luck. Please note: Information is educational and not given as legal advice. Only your local attorney can give legal advice. I can't establish or accept an attorney-client relationship with you. All posts are available for public viewing. Kind regards,Gerald (Please do not forget to rate me – click the five stars. It adds nothing additional to your costs, but it helps me greatly. Plus it is good Karma for you. Thank you.)