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Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
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My parents are proposing to distribute half of their estate

Customer Question

my parents are proposing to distribute half of their estate to us kids when one of them dies. the other half is subject to the provisions of a marital trust and is intended to go to us kids when that parent dies, the mother is concerned that the father will remarry and give away the estate to some "hussy". Is there any downside to this plan?
JA: Estate laws vary by state. What state are you in?
Customer: the parents are in New Mexico. Kids are in CA, NM, VA
JA: What documents or supporting evidence do you have?
Customer: this was proposed by their attorney in NM. and the parents are asking us our opinion. I am concerned about the affect/living standard of the remaining parent.
JA: Anything else you want the lawyer to know before I connect you?
Customer: The estate is aprox 1M.
Submitted: 6 months ago.
Category: Estate Law
Expert:  Barrister replied 6 months ago.

Hello and welcome! My name is ***** ***** I am a licensed attorney and will try my best to help with your situation. There may be a slight delay in my responses as I research statutes or ordinances and type out an answer or reply, but rest assured, I am working on your question.

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Will this be an irrevocable marital trust?

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Or will it become irrevocable when the first parent dies?

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Will the marital trust be solely for the benefit of the surviving spouse?

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Who will be the trustee of the trust?

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Does the surviving spouse have any authority to invade the assets of the trust if necessary?

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thanks

Barrister

Customer: replied 6 months ago.
Very good questions. I will get the answers and come back if I may.
Customer: replied 6 months ago.
Will come back with answers so we can proceed then. Is that okay?
Expert:  Barrister replied 6 months ago.

Sure, the question will remain open indefinitely for you. I am typically online in the evenings so take your time..

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thanks

Barrister

Customer: replied 6 months ago.
Okay thanks. Will come back probably tomorrow night.
Expert:  Barrister replied 6 months ago.

No worries, take your time..

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