What is the name of your state?
I live in the state of California and here's my question. My parents own three properties and have four children. One property worth about $200K is going solely to one sibling. Another property worth about $800K is being equally divided to the other three siblings and the last property is being divided into four. I'm just wondering if my parents can state in their living trust if one property can go to one sibling alone? Could the other siblings contest it? Is there any way that my parents can state one property ($800K) be purchased by one sibling for a specific amount to be divided equally and given to the other two siblings, even though it may be a lot lower than the actual value of the property without the other siblings contesting it? My parents have a living trust but I'm not sure if they also have a will. Any advice would be greatly appreciated.
I live in the state of California and here's my question. My parents own three properties and have four children. One property worth about $200K is going solely to one sibling. Another property worth about $800K is being equally divided to the other three siblings and the last property is being divided into four. I'm just wondering if my parents can state in their living trust if one property can go to one sibling alone? Could the other siblings contest it? Is there any way that my parents can state one property ($800K) be purchased by one sibling for a specific amount to be divided equally and given to the other two siblings, even though it may be a lot lower than the actual value of the property without the other siblings contesting it? My parents have a living trust but I'm not sure if they also have a will. Any advice would be greatly appreciated.
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