What is the name of your state?What is the name of your state? NEW JERSEY
My mother has a living trust. I am DIVORCED. Recently,an amendment was added for the benefit of my DAUGHTER. I am the next trustee and beneficiary of the ENTIRE estate,minus,of course,the money that would go to my daughter. If I die my brother would take my place,in ALL RESPECTS. The wording in the amendment reads as follows: "So and So is to receive the lesser of 10% of the trust estate or $50,000" My question is this: If MY DAUGHTER is NOT ALIVE at the time of my mother's death would the money just stay in the estate (RESIDUALS,which would stay with me) OR could her MOTHER or ANYONE ELSE have a claim on it,which is what we DON'T want. I asked the attorney about this at the time the amendment was signed and was told that it could not happen,NOW I AM NOT SO SURE, I have NOT as yet heard back from the attorney. I realize,AND AM FULLY AWARE OF THE FACT that having the actual document in front of you is the BEST way to answer this. Obviously this is impossible but the line that I quoted above is THE ACTUAL AND ONLY LANGUAGE PERTAINING TO THIS CHANGE.Therefore,based on THIS information I would greatly appreciate ANY AND ALL COMMENTS!!!!!!!!!
THANKS
My mother has a living trust. I am DIVORCED. Recently,an amendment was added for the benefit of my DAUGHTER. I am the next trustee and beneficiary of the ENTIRE estate,minus,of course,the money that would go to my daughter. If I die my brother would take my place,in ALL RESPECTS. The wording in the amendment reads as follows: "So and So is to receive the lesser of 10% of the trust estate or $50,000" My question is this: If MY DAUGHTER is NOT ALIVE at the time of my mother's death would the money just stay in the estate (RESIDUALS,which would stay with me) OR could her MOTHER or ANYONE ELSE have a claim on it,which is what we DON'T want. I asked the attorney about this at the time the amendment was signed and was told that it could not happen,NOW I AM NOT SO SURE, I have NOT as yet heard back from the attorney. I realize,AND AM FULLY AWARE OF THE FACT that having the actual document in front of you is the BEST way to answer this. Obviously this is impossible but the line that I quoted above is THE ACTUAL AND ONLY LANGUAGE PERTAINING TO THIS CHANGE.Therefore,based on THIS information I would greatly appreciate ANY AND ALL COMMENTS!!!!!!!!!
THANKS
