Can I Just Copy My Father's Living Trust For My Own?
by ann
My father recently passed, leaving his assets in a trust with me as the trustee and only beneficiary. I want to set up a trust of my own, naming one son as trustee but with both sons as beneficiaries. I have specific requirements (like reaching a certain age) for one son to receive anything. Can I just use the verbiage from my father's trust for my own trust....just changing the names and distribution requirements? Since I have a trust to copy, why do I need a lawyer to do anything? Of course, I would have it notarized and everything, just like my father's was. Can I say that I want one son to inherit at a certain age unless his brother (the trustee) decides he is fit at an earlier age? Can I say that mineral interests are not to be sold by my children, only managed with the proceeds to be used by them during their lifetime then passed on to my grandchildren? |