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How much can be changed in a joint trust after one party dies?

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Cliff421

Member
I have a happy ending and it wouldn't have happened without all of your help.

As I already said, Dad and my sister already knew that the trust my sister drew had fatal, contradictory errors and that it had to be "fixed." So Dad was already prepared to sign one last version.

I took him to lunch yesterday and simply asked him if he still had a preference as to who would "be in charge" of everything after he passed. He adamantly again said that I should. He said my sister has no experience at those things.

Where you all have helped me most is in learning that a new trust is a different "person" and doesn't own the assets of the original trust.

We need an amendment. Thank you. That gives me power if something happens to Dad before we get this done.

I actually believe now that Dad is going to go ahead and have the estate planning, 30 year friend attorney draw that amendment and it will probably be signed and in effect before my sister gets her. I believe that I will be asked to talk to our friend attorney with Dad and tell him what we need.

Again, thanks for the info about the "no contest" clause, the creating a new trust but a different trust with the same name, that I can object to unfair dealings even if my sister prevails, etc. etc.

Now I know what to do and where I stand if I fail to get the amendment. I'll come back when the amendment is finished to celebrate. :)

Cliff
 



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