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LADYLAWYER
LADYLAWYER, Lawyer
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How must a successor trustee of an irrevocable Florida trust

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How must a successor trustee of an irrevocable Florida trust proceed when a per capita beneficiary of the trust is deceased? The trust document specifies that should a beneficiary predecease distribution, his or her gift shall lapse and become part of the per stipes distribution to the remaining beneficiaries. Is this still proper and legal under current Florida law?

LADYLAWYER : Hello, Thanks for choosing Justanswer.com! I look forward to helping you with legal information today.
Customer: OK, great.
LADYLAWYER : It is indeed still valid under FL law. Even if the laws had changed, a properly drawn up trust would have survived any changes in the law. The remaining beneficiaries are to take, per stirpes, under the trust.
LADYLAWYER : The terms of the trust control the distribution and there is no conflict under FL law.
Customer: The only remaining per stirpes beneficiary is also deceased. Does her portion go to her estate?
LADYLAWYER : If the trust does not specify and there are no other family members or beneficiaries to take, then yes.
Customer: Thank you. I know this is more than my first question and of course I will pay more than the $18, but the other per stipes (1/3) is a an organization defunct for many years. I have been unable to locate any of the former board members. Do I need to do anything else, or can their 1/3 lapse to the body of the trust?
LADYLAWYER : Not a problem at all--I am happy to assist you! A bankrupt or dissolved corporation's share would revert back to the trust and be distributed equally among any remaining beneficiaries. If all that's left is this one beneficiary's estate, then the defunct organization's share would go to the beneficiary's estate.
Customer: Perfect! In ten minutes you've resolved questions I have been chasing the trust lawyer on for a while now. How about I put how on speed dial? ;)
Customer: how = you
LADYLAWYER and 3 other Legal Specialists are ready to help you
Lol, happy to help! Yes, it can be frustrating trying to get a call back. That's what we provide this service for--information in a pinch. Thanks so much!

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