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loss_hoot
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moving assets between trusts
What is the name of your state? California
I am one of four siblings. We are each the equal beneficiaries of a trust. The major assest we'll be dividing is illiquid (family owned business). I am single and have no children. Each of the other siblings is married with children. The way things are set up, seperate trusts have been established in each of our names, and these trusts will be funded when the family owned business is sold. Is there any advantage/disadvantage to me because of the fact that I am not married and have no children? What
advantage is created by selling off portions of the illiquid assets from the irrevocable trust in order to fund either the qtip trust or bypass trust. Awhile back a lawyer mentioned to me that I should make sure that such a thing be carried out in interest of "fair and equatable treatment." If I have made any sense whatsoever, I am hoping to hear from someone who can explain to me my options. Thanks
What is the name of your state? California
I am one of four siblings. We are each the equal beneficiaries of a trust. The major assest we'll be dividing is illiquid (family owned business). I am single and have no children. Each of the other siblings is married with children. The way things are set up, seperate trusts have been established in each of our names, and these trusts will be funded when the family owned business is sold. Is there any advantage/disadvantage to me because of the fact that I am not married and have no children? What
advantage is created by selling off portions of the illiquid assets from the irrevocable trust in order to fund either the qtip trust or bypass trust. Awhile back a lawyer mentioned to me that I should make sure that such a thing be carried out in interest of "fair and equatable treatment." If I have made any sense whatsoever, I am hoping to hear from someone who can explain to me my options. Thanks
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