My parents currently are in a revocable living trust where…

Thanks for the response. Another option is to revoke the living trust and make a will right? Also are you sure my dad needs to sign off on changes to the trust if both trustees have complete power of trustee?

I see. This is community property, but she should still be able to give me 50% of the property if she revokes the trust or if an amendment to the trust is made correct?

Also I know this is a tangent but I'm really liking your service so if you know the answer, I would very much appreciate it.My mom has already written me as the sole beneficiary to her life insurance policy. After reading the living trust, only income, business, and property are included in the trust. This means that my dad is unable to try to get life insurance money given to me on the grounds that all assets in the living trust should be given to the surviving grantor/initial trustee right? Also, this life insurance money can be used in whatever way I want and does not have to be used to pay off my mother's debt because the living trust says that any assets held in the trust given to the surviving grantor when one initial trustee dies will be used to pay off estate administration taxes, fees, debt, funeral cost and my dad is the surviving grantor, not me. Also like I said, the life insurance money is not included in the trust. No outside will beside the trust has been made by my mom.

Perfect! Thanks so much for your quick and clear responses. I have one more question. I'll definitely be giving you a bonus for your great help.I want to make an agreement with one parent over assets shared by both. This agreement is basically: if I graduate dental school and be a licensed dentist, I will have dental school paid for and be a 50% owner in the dental business (all of the ownership stake from the one parent who wants to write an agreement with me). Both my mom and dad promise this orally, but only my mom is willing to write she agrees on paper.Right now, all of their assets are shared and placed in a revokable living trust where both parents are sole and equal co-trustees. Both trustees have complete power of trustee and can act on behalf of the trust by themselves. What is the best way to draft this agreement: The first party is me, but should the second party be the one parent (and not a parent acting on behalf of a trust) who wants to make an agreement with me? I want to confirm the following: a) By addressing the second party as the parent and not a trustee, if the trust is revoked, I can still hold that one parent to the agreement. b) If that parent dies, the estate is now responsible. c) Upon time to collect what has been promised to me in the agreement, the parent can revoke the living trust to fulfill her debt.

Also I assume that since this agreement will take place before death (hopefully), we do not need to adjust trust in any way since my mom has complete power as a trustee.

C) No. So if I address the agreement to my mom as a parent and not as a trustee (because I fear the trust can be revoked. The trust is revocable at any time by any trustee), my dad can later say well the person that promised you was a parent and not the trust which owns everything. However, my mom will still be in debt to me and need to give her ownership so she is able to revoke the trust to fulfill her debt. Is that right?Let me rephrase. She will need to revoke the trust to fulfill her debt to me.

Thanks for all of your help. I'm on a trip right now so I can't respond quickly but I think I know everything I need to know. However, let's say in the future I need to sue my dad because he is putting up a fight. And let's say my mom has died so this is the estate that owes me. What can I do to stop him from just leaving the country which he might do?

Maybe there's a way to use escrow?

Yes please.

Yes.I have made a notarized contract with my mom for the following:If I am to graduate dental school and be a licensed dentist, I will receive the following:
a) dental school + cost of living while in dental school completely paid for
b) 50% of the family dental business
c) 50% of the property that houses the dental businessMy dad vocally says this too, but is unwilling to write it on paper. That is why I only wrote my mom's 50% share officially. All assets are shared equally by my parents and placed in a revocable living trust where each parent is an equal trustee with complete autonomous power of trustee to sell, buy, manage assets as he or she pleases.From my understanding with a couple of other lawyers, if one parent promises this, the other parent also has to follow through. It's similar to the idea of a wife buying a diamond ring. The husband can be angry, but that is all he can do. If my mom dies before dental school graduation/licensing, however, it would be tough to receive what was promised. If she died afterwards though, the estate is still responsible for these debts.Please confirm the above, but I am pretty sure that is right. What I am still unsure of though is what if my mom dies after graduation/licensing and my dad does not want to pay these debts even though the estate owes me. He could very well sell the business, property, and leave the country. What can I do to stop him from doing this? Is it possible to request the court to take his passports if a lawsuit is filed?

Great so that confirms my initial concern. What are your thoughts on the flight risk?

This is what another lawyer answered regarding to if my mom were to die, and her debts being passed to the estate. What are your thoughts on this? I know you said the opposite so I'm a bit confused now."Unfortunately, if your father jointly owns the assets, and your mother dies, then there is a very good chance that you cannot enforce the contract (assuming that your mother is the only party who signs the contract).Your father would have no legal obligation to fulfill your mother's obligations. Your mother's estate would need to fulfill her obligations, but if her assets are owned jointly with your father, there is a very good chance that her estate will have nothing. In most cases, jointly owned property automatically passes to the surviving joint owner. Accordingly, there may be no way to enforce the contract if your mother were to die."

When you say "estate" is that my mom's estate or both parents'? Because my mom's estate will have nothing if everything is transferred to my dad if she dies.