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Richard, Attorney
Category: Estate Law
Satisfied Customers: 55305
Experience:  29 years of experience practicing law, including tax and estate planning.
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If you have a living trust but all the property has been

Customer Question

If you have a living trust but all the property has been sold and 2 of the principals are dead
Can you start over with a new trust or do you have to do something with the old one.
Submitted: 1 year ago.
Category: Estate Law
Expert:  Richard replied 1 year ago.

Hi! My name is Richard & I will be helping you today! It will take me a few minutes to type a response to your question. Thanks for your patience!

Expert:  Richard replied 1 year ago.

Can you provide me a bit more information? When you refer to the principals, are you referring to the grantors of the trust? And, does the trust agreement allow for a distribution of the assets in the trust? Thanks.

Customer: replied 1 year ago.
The grantors of the trust were me and my husband, who is deceased and all of the property in that trust has been sold as
the trust allowed me to sell the property
Expert:  Richard replied 1 year ago.

Then as the grantor of your share of the marital assets and the beneficiary of your husband's, you can simply distribute the money from the trust to yourself and then form a new trust and contribute whatever assets you choose to that trust.

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