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MIAMILAW1127, Attorney
Category: Estate Law
Satisfied Customers: 755
Experience:  Founding Partner at Moises Law, P.A.
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My mother died 6 years ago with an estate of about $500,000.

Customer Question

My mother died 6 years ago with an estate of about $500,000. Half was put into a trust to care for a disabled sister. One eighth, was willed to my sister Karen, one eighth to me, one eighth was will to and divided amount 6 grand children (3 of mine and 3 of Karen). The remaining eighth went to my brother-in-law, Al, Karen's husband. Mom put him in the will because Al was the "son that she never had, the brother that Deanna never had." Are you getting the picture? My children and I were viewed as the red headed step children, grandkids.
Having my brother-in-law in mom's will and for the reasons stated above, I asked Karen if, should we out live Deanna, and there was money remaining in the trust, what was going to happen to it? She told me that mom set that up to be divided between her and her husband Al. She was ashamed of mom action and said that we would divided it 3 ways if Deanna did not out live us! Deanna was very healthy but confined to a bed or wheelchair. My children and I were the only family geographically close enough to the nursing home to keep an eye on the care given to Deanna on a daily basis if actually necessary. Over the last 6 years, I have checked on the care or lack of it an average 8 times a month.
You should know the question that I am going to ask. Deanna developed an infection about 3 weeks ago and died 11/14/15. Karen mentioned to me that she had written a check to Deanna's church and it bounced because trust is frozen. I believe that Karen, Al and I can agree on a fair split. My guess is that there is $150-200K in the trust at this time. What is the chance that the balance of the trust will be taxed and that Karen, Al and I will be able to split as we agreed.
Submitted: 1 year ago.
Category: Estate Law
Expert:  MIAMILAW1127 replied 1 year ago.

Hello. I am going to be assisting you with your question today.

Please note: This is general information and is not legal advice. No specific course of action is proposed herein, and no attorney-client relationship or privilege is formed by speaking to an expert on this site. By continuing, you confirm that you understand and agree to these terms.

If they are to be the beneficiaries of the trust after the death of Karen and the three of you have agreed in writing to a split, then it is likely that will happen. Also, you will be taxed because the money/benefits would now be leaving the trust due to the exhaustion of the purpose of the trust. In other words, it would no longer be protected by the trust from being taxed.

I hope I have answered your questions. If I have not, please feel free to ask any follow-up questions you may have. Also, please do not forget to rate my response at your earliest convenience.