Father Remarries

[CatugalCat]

undefinedWhat is the name of your state? Hawaii

In February of 1998, my Husbands Father, who was single at the time, created a Revocable Living Trust, naming his 3 adult children as successor trustees. My Brother-in law is 1st, my Husband is 2nd, and sister is 3rd. The estate as far as we know, consisted of a house, some life insurance, jewelery, and assorted misc. items. In February of 2000, Dad married a very wealthy Canadian. She told us that she and Dad wanted to remodel the house, and that she was going to buy out the kids share of the house so that she and Dad would be sole owners. To make a long story short, they remodeled the house, then eventually sold the house, and none of the kids ever saw a penny of the sale. The house sold for $370,000. She sold the house when Dad was dying and not in his right mind, then turned around and bought a $500,000 condo. Dad died in Sept. of 2003. My question is, since the kids received a copy of the living trust, naming them as successor trustees, should they have received notice if they were removed as trustees?

 

[I AM ALWAYS LIABLE]

undefinedWhat is the name of your state? Hawaii

In February of 1998, my Husbands Father, who was single at the time, created a Revocable Living Trust, naming his 3 adult children as successor trustees. My Brother-in law is 1st, my Husband is 2nd, and sister is 3rd. The estate as far as we know, consisted of a house, some life insurance, jewelery, and assorted misc. items. In February of 2000, Dad married a very wealthy Canadian. She told us that she and Dad wanted to remodel the house, and that she was going to buy out the kids share of the house so that she and Dad would be sole owners. To make a long story short, they remodeled the house, then eventually sold the house, and none of the kids ever saw a penny of the sale. The house sold for $370,000. She sold the house when Dad was dying and not in his right mind, then turned around and bought a $500,000 condo. Dad died in Sept. of 2003. My question is, since the kids received a copy of the living trust, naming them as successor trustees, should they have received notice if they were removed as trustees?

My response:

What happened with the Probate of your father's Estate?

IAAL

 

[CatugalCat]

As far as we know there was no probate, I thought that was the purpose of the living will, so you don't have to go through probate. Oh, I forgot to mention that, when searching through real estate transactions, it looks as though Dad sold the house to his wife. Because is showed him as Grantor and her as Grantee.

 

[I AM ALWAYS LIABLE]

As far as we know there was no probate, I thought that was the purpose of the living will, so you don't have to go through probate. Oh, I forgot to mention that, when searching through real estate transactions, it looks as though Dad sold the house to his wife. Because is showed him as Grantor and her as Grantee.

My response:

Apparently, your Dad revoked the Trust, and sold the house to his wife. However, that doesn't mean that you're "cut out" of sharing in his Estate. It doesn't just all go to her!

So, you need to see an attorney to start the probate process, and get what is rightfully yours of what is left of his Estate. Or, you can just sit back and do nothing.

IAAL

 

[CatugalCat]

Thank you for your input. We will see an attorney on Monday. We'll keep you posted.

 

[I AM ALWAYS LIABLE]

We'll keep you posted.

My response:

Why?

IAAL

 

[CatugalCat]

Sorry, was not thinking.

 

[curb1]

I am always liable,
Why did you ask the question, "what happened wth the probate of father's estate? With the revocable living trust, should there have been a probate? I am a survivor trustee of a revocable LT and was under the assumption that there will be no probate.

 

[I AM ALWAYS LIABLE]

I am always liable,
Why did you ask the question, "what happened wth the probate of father's estate? With the revocable living trust, should there have been a probate? I am a survivor trustee of a revocable LT and was under the assumption that there will be no probate.

My response:

You need to read a little more carefully. You said you were "a survivor trustee of a revocable LT."

Our writer may not be a "survivor" of a Trust. The presumption I made was that the Trust was revoked prior to the decedent's death; i.e., That he sold the house and other property to his wife before he died. That pretty much means to me that there's nothing left in the Trust, and the Trust no longer existed at the time of death. Therefore, and at the very least, our writer is entitled to his/her "intestate" rights to his/her father's Estate - - whatever was left of it at the time of death.

For example, what if our writer's father had a collection of 1938 $20.00 gold Double Eagles, which would be worth millions of dollars?

This is but one reason why our writer needs to see a probate attorney.

IAAL

 

[curb1]

I am always liable,
If the living trust was not revoked, would the surviving trustees have a claim to father's estate? There must be more to this. What a ripoff if the new wife claims all of the lifetime assets of father and previously deceased mother.

 

[I AM ALWAYS LIABLE]

I am always liable,
If the living trust was not revoked, would the surviving trustees have a claim to father's estate? There must be more to this. What a ripoff if the new wife claims all of the lifetime assets of father and previously deceased mother.

My response:

Yes, if it wasn't revoked. But, at this point, all we know is that the house was an asset of the Trust. For all we know, the old man didn't have a Will, and the wife took the collection of Double Eagles, or everything else that was never a part of the Trust. For all we know, at this point, the "res" of the Trust is empty, and the balance of the old man's personal and/or real property was just "taken" by the new wife. Remember, Hawaii is a separate property State.

IAAL

 

[CatugalCat]

As far as the surviving kids were concerned, the LT was still in effect at the time of Dad's death. However, the new wife has said nothing to any of us, she hasn't talked about the sale of the house or where Dad's jewelery is, each kid got 1 piece. She sold the house for $370,000 free and clear, the mortgage had already been paid off years ago.

 

[curb1]

Thank you,
Perhaps there is more information to come. It just seems that I have heard this story dozens of times and it is disgusting. If the "first to die" could only speak, there would be some very heated words.

 

[CatugalCat]

Father remarries

So do you think that we have a hope of seeing something from Dad's estate, providing we seek the advice of a probate attorney?

 

[CatugalCat]

Father remarries

Dad told the kids Mother (they have been divorced for 34 yrs.) his first wife, that each of the kids should get about $35,000. This was told to her about 2 months before he passed