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Standard AB Trust (all funds are from stock investment and savings, no property).

North Hollywood, CA |

-Grandparents have Standard AB Trust (all $ from stock investment & savings,no property) -Grandma dies & trust is split. Her irrevocable trust w/ 750k & my grandpas trust w/ 720k. - Grandpa now passed away -Statement from his stock broker w/ assets totaling 1.2M Is it common for my grandmothers irrevocable trust to have been fully funded w/ the 750k when she died, or could her 750k be part of the 1.2M & the left over would go to my grandpas beneficiaries? I know there are many possibilities Im just trying to see what would be most common. I would assume that it would have been easier for my grandpa to sell off stock or just place 750k in her trust at the time of her death so that her beneficiaries would be guaranteed their part, & assuming that, the 1.2M would all belong to his trust

Attorney Answers 4


  1. The split is dictated by the terms of the trust and the actions of the trustee within certain time lines.
    It would be best for your attorney to review everything and spend time with you advising what actions
    were taken.

    The answer given does not imply that an attorney-client relationship has been established and your best course of action is to have legal representation in this matter.


  2. There is no "most common" situation. You should have an attorney review your particular situation if you have questions.


  3. Much more information is needed to figure out what your question is or if it even matters. Specifically, the dates of death are important. that said, it would make sense for grandma's share to be fully funded, as it appears to have been, to take advantage of the tax savings. Grandpa's share obviously did quite well since it grew to 1.2M, but if he died recently, none of the growth, funding, etc. will probably matter. Hopefully your family has an experienced trust administration attorney and CPA to help you through the distribution so that there are no tax consequences.


  4. "Could her 750k be part of the 1.2M & the left over would go to my grandpas beneficiaries?" Yes, that result is possible. It is also possible that some other distribution is mandated by the terms of trust. You have asked a very similar question recently. You will not get any better answers unless and until an attorney is able to review the terms of trust and all the facts. You previously mentioned that an attorney is involved. This is a question you should ask that attorney. Or, alternatively, retain your own counsel for advice and representation. Good luck.

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