Estate Law

Estate Law Questions? Ask an Estate Lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Estate Law

What is the difference between a Last Will and Testament and

Customer Question
a Fourth and Fully Restated...
What is the difference between a Last Will and Testament and a Fourth and Fully Restated Trust Agreement for the ......... Revocable Luving Trust. What is the difference? Why would the deceased need both documents. They seem to contradict each other.
Submitted: 2 years ago.Category: Estate Law
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 11 minutes by:
9/30/2015
Estate Lawyer: RobertJDFL, Attorney replied 2 years ago
RobertJDFL
RobertJDFL, Attorney
Category: Estate Law
Satisfied Customers: 14,037
Experience: Experienced in multiple areas of the law.
Verified

Thank you for using Just Answer. I look forward to assisting you.

Both are estate planning documents used to distribute an estate, though they work in conjunction with one another. The trust is managed by a trustee. A "Fourth and Fully Restated Trust" means that the trust itself (at least portions of it) were amended four times. It is far less costly to amend a trust then have a new one written. Once a trust is created, assets are titled in the name of the trust and "placed into it", so to speak. This is sometimes known as "funding the trust."

The Will is what is known as a "pour over will" wherein the writer of the will directs that assets in the estate are to be distributed per the terms of the trust. In other words, if there are assets that never made it into the trust before the original grantor/trustee of the trust passed away, they will "pour over" into the trust and be administered however the trust directs.

Ask Your Own Estate Law Question
Customer reply replied 2 years ago
What if a beneficiary went and stole assets of the estate without putting in the Trust for distribution?
Estate Lawyer: RobertJDFL, Attorney replied 2 years ago

Then the successor trustee could bring suit against them for return of those assets (or the financial equivalent). The trust has to be administered and the estate settled before final distribution can be made to ensure the debts and expenses of the decedent are paid.

Ask Your Own Estate Law Question
Customer reply replied 2 years ago
What does it mean to Settle the Estate?Since it was the Widow who stole from the Estate, can she be held to pay the husband's credit card debt of $112,000? Arizona is Community Property. Or, do all the benefificiaries (3 sons) have to pay the debt.
Estate Lawyer: RobertJDFL, Attorney replied 2 years ago

Settling the estate is the process by which the successor trustee would administer the trust - take an inventory an accounting of the assets, gather information on what debts the decedent left, pay those debts from the estate assets, and the make distribution of what is left. The beneficiaries are not responsible for the final debts of the decedent, they are to be paid from the estate.

If these credit cards were in the husband's name only, they should have been paid from the estate assets. If those assets were taken improperly, a court can order that they be paid back, yes. Keep in mind that not everything is considered a trust asset or part of the estate. For example, jointly titled property between spouses (such as a joint checking account) would pass automatically to the surviving spouse. Similarly, anything like life insurance or retirement accounts that have pay on death/transfer on death clauses is paid directly to the named beneficiary or beneficiaries.

If the sons have concerns that the trust was not administered properly or things were not handled properly, it would be highly advisable for them to speak with a trust and estates attorney (many offer free or low cost consultations and there is never any obligation to hire someone).

Ask Your Own Estate Law Question
Customer reply replied 2 years ago
Are the widow and 3 sons from another marriage responsible to pay the father's credit card debt in Arizona. The children did not make the debt why do they have to pay it off out of their Trust portions of 15% each. The widow gets the rest.
Estate Lawyer: RobertJDFL, Attorney replied 2 years ago

They are not personally responsible, no. The estate is - it is paid from the assets of the trust/estate. Before assets can be distributed, debts of a decedent must be paid. That's not specific to Arizona -that is the process of settling an estate/trust in all states. Being named a beneficiary of a trust or will doesn't guarantee that a person will necessarily receive anything, unfortunately (and I have worked on a fair number of estates where debts exceeded assets.

Ask Your Own Estate Law Question
Ask RobertJDFL Your Own Question
RobertJDFL
RobertJDFL
RobertJDFL, Attorney
Category: Estate Law
Satisfied Customers: 14,037
14,037 Satisfied Customers
Experience: Experienced in multiple areas of the law.

RobertJDFL is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,414 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

5,061 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,015 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,839 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

14,037 satisfied customers

Experienced in multiple areas of the law.

ScottyMacEsq

ScottyMacEsq

Attorney

1,162 satisfied customers

Licensed Texas General Practice Attorney

< Previous | Next >

Related Estate Law Questions
Estate question. I am an Executor of an Estate. The person
Estate question. I am an Executor of an Estate. The person who's Estate I am administering was in the middle of administering her husband's estate with the assistance of her lawyer, when the Executor … read more
TaxAttorneytoHelp
TaxAttorneytoHelp
Owner
Doctoral Degree
2,542 satisfied customers
My underage niece is the beneficiary of a Last Will and
My underage niece is the beneficiary of a Last Will and Testament and sister is the executor. The deceased date of death was the second week in September. He was behind on several debts some of which … read more
Michael Bradley
Michael Bradley
JD
1,127 satisfied customers
Can a representative of an estate keep jewelry from the
Can a representative of an estate keep jewelry from the estate? Also, if there is a pour over will isn't everything not in the will suppose to go to the trust? … read more
Damien Bosco
Damien Bosco
2,991 satisfied customers
I have more estate issue: right to occupancy vs. life estate
I have more estate issue: right to occupancy vs. life estate and what it means if a tenant is renting outside the primary residence. The deed is set up 50% trustee (me) and 50% stepmom's trust. Trust … read more
jb156200
jb156200
Associate Attorney
Doctoral Degree
413 satisfied customers
The attorney representing my brother's estate, no will was
The attorney representing my brother's estate, no will was left, was hired by my older sister.6 mnths. later he still has not returned my call. I was told since she hired him he did not have to call m… read more
socrateaser
socrateaser
1,031 satisfied customers
This is a continuation from a previously asked estate
This is a continuation from a previously asked estate question regarding my Mother. So my mom left very little in terms of an estate but did leave a Will. At first glance she appeared to be insolvent,… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
I am the trustee of an estate in California, and at last
Greetings. I am the trustee of an estate in California, and at long last have reached a settlement agreement with my angry, belligerent older brother. The court order stipulates a thirty-day distribut… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,061 satisfied customers
Does CO Estate or CA estate law, since the home is located
Does CO Estate or CA estate law, since the home is located in California, require the home to have an appraisal at a required point in time after the death of the decedent whose home is in a trust?I a… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
I guess - provide an answer. iowa, pour over wills; trust
pour over wills; trust documents; a lot of correspondence with trustees and attorneys; court proceedings … read more
LegalGems
LegalGems
Juris Doctorate
10,163 satisfied customers
Can a co-executor of an estate share emails from the estate
Can a co-executor of an estate share emails from the estate attorney to beneficiaries of the estate without the attorneys consent?… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,061 satisfied customers
My brother became Trustee of my father's estate and Trust
My brother became Trustee of my father's estate and Trust upon my father's … read more
Dwayne B.
Dwayne B.
Juris Doctor
28,498 satisfied customers
Grandfather set up trust for life of wife, with pour over to
Grandfather set up trust for life of wife, with pour over to daughter in Trust to terminate with grandchildren. Cost basis 50 years ago was about $150,000. Today the Trust assets are worth about $3.5 … read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,061 satisfied customers
I have an estate problem. The Estate is in New Jersey. There
There is an executor and co-executor of the estate. My brother is the other executor. There was a will stating the distribution ratios. My brother felt he wanted it all. I wanted the will to be distributed as stated. … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
My mother passed last year in Calif. Her estate was less
My mother passed last year in Calif. Her estate was less than the Calif limit of $5M. My sister who lives in Calif and I who live in NY were beneficiaries of her irrevocable trust. Do I have to pay a … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
I am executor of the fathers estate. Or the last I knew I
I am executor of the fathers estate. Or the last I knew I was. Last September I lady had told me that my father changed his will. She told my half brother that she gets all his money and everything is… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
My father passed away last year and his estate is insolvent.
My father passed away last year and his estate is insolvent. The estate does not have enough money to pay the debts. We did sell the home in order to pay court claims that had been filed against the e… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,414 satisfied customers
Do you have a form for a pour over will, nebraska, i have a
i have a revocable trust that was made when my husband died, but it is 18 years old and people are telling me i need the poour over will … read more
KJL LAW
KJL LAW
Juris Doctorate
1,618 satisfied customers
My mother passed away and had a living trust and pour over
My mother passed away and had a living trust and pour over will. I am the successor trustee. I have since found she owned some stocks. Their web site says I need a certificate of appointment or small … read more
LawGuy
LawGuy
Juris Doctor
123 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x