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My mother passed away three years ago. She was married to my step-father for 15 years. Before she passed, they drew up a living trust that split the assets equally between myself, my sister, step brother, and step sister.
If my step father remarries, will I still have legal rights to the assets he had prior to remarrying. I am concerned that I will be left with nothing. Should I contact a lawyer? My sister and I have a good relationship with our step father, but I am very concerned that we will be left out. I am afraid that my step siblings will get it and my sister and I won't receive our fair portion. |
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I am not completely sure what you are asking. You mentioned that assets were split between yourself and 3 other siblings. These are the assets you are entitled to. If something was left to your step father it will be his choice who he leaves these assets to.
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My mother and step father wanted to make sure that their assets were divided up equally upon their deaths so they drew up a living trust that stated that upon both of their deaths, the assets were to be divided up equally amongst four siblings. Since my mother has passed away, all of the assets are in my step-father's control. If he were to pass away tommorrow, the living trust would be executed as he and my mother wished. If he remarries, will all of the assets belong to him and his new wife and upon his death, will my sister and I be entitled to 1/4 each of the assets as orignally agreed upon by my mother and him, or will all of the assets go to his new wife and my sister and I be left with nothing. My concern is not about his new wife, rather my step-brother and step sister inheriting all of the assets upon the death of my step father and my sister and I receiving nothing. I know that my mother's intention of having a living trust was so that my sister and I would receive our fair share. We are both concerned that we will receive nothing if he remarries. Last edited by Freberg2000 : 07-10-2006 at 09:17 PM. Reason: correction |
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Is your step dad the trustee? If so, trustees can petition the court to revoke a irrevocable trust. Depending on his reasons ("changed circumstances" i.e. the continuation of the trust defeats the purpose of the trust, ambigious language, or low principal are a few reasons) the court will either agree or not.
Beneficiaries can revoke a trust but this does not seem like something you want to do. |
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