What are a Trust beneficiary’s rights regarding their prospective inheritance?
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What are a Trust beneficiary’s rights regarding their prospective inheritance?
I have cancer and am married, with no children. My mother is still alive; she has a Trust. If I were to precede her, my wife of 20 years would get nothing, so I want to modify the Trust to have control over where my share of the inheritance should go should I precede my mother. If we modify my mother’s Trust to have all my inheritance go into a Trust to be set up for my wife, if I am not alive would that be legal? Can I draw up a Trust that will stay “valid” until my mother passes away? Then, I assume I then need to make sure I do have a Trust. I do have a copy of my mom’s Trust. I also can draw up a Trust through some software I have for myself.What do you think? And, what would be the lowest fee to do this?
Asked on August 15, 2013 under Estate Planning, Colorado
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 10 years ago | Contributor
I suggest that you and your mother have a face to face meeting regarding her trust where you are a beneficiary to see what she is willing to do if you pass before her vis a vis your wife. If she is willing to let your spouse have a share of the trust in the event you predecease her then a competent Wills and trust attorney needs to draft up an amendment to the mother's trust where you also sign it as some form of consideration. A competent attorney can be found on attorneypages.com.
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