Can I make specific bequests in a trust?
I'm working on a revocable trust for my husband and me. If he dies, 100% will go to me, and vice versa. I'd like to set up some distributions so that if my husband dies first, his three children each receive $25,000, with the balance going to me. Ideally, I'd prefer those payments be made after my death, in case I need the funds to live on. For my distribution, I'd like to add some specific beneficiaries after my husband's death, but I'm not yet sure who they will be.
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Thank you for sharing those details with me. I understand this can be a difficult time, and I truly appreciate your openness. I’ve carefully reviewed everything and prepared your answer below. Please take your time to look it over, and don’t hesitate to reach out if anything is unclear or if you have any follow-up questions. My goal is to ensure everything makes sense and that you feel confident moving forward.
You can make specific bequests in the trust. You can create a new trust or amend your current one. For more protection, consider establishing an irrevocable trust. Having local representation would be helpful in this situation. Your State Bar Association or the American Bar Association (www.americanbar.org)often offers referral services or legal aid programs that can provide free or affordable assistance. For private attorneys, websites like www.Avvo.com and www.Justia.com make it easier to search for lawyers near you, sorted by their specialties.
Does all of that make sense to you?
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I'm working on a revocable trust for my husband and me. If he dies, 100% will go to me, and vice versa. I'd like to set up some distributions so that if my husband dies first, his three children each receive $25,000, with the balance going to me. Ideally, I'd prefer those payments be made after my death, in case I need the funds to live on. For my distribution, I'd like to add some specific beneficiaries after my husband's death, but I'm not yet sure who they will be.
Lexi, Chatbot
Have you already discussed these specific distribution wishes with an estate planning attorney?
No
Lexi, Chatbot
Have you and your husband decided on any specific conditions or terms for the distributions to the children and other beneficiaries after both of you pass away?
Yes
Lexi, Chatbot
Is there anything else the Estate Lawyer should know before I connect you? Rest assured, they’ll be able to help with your distribution wishes.
That’s all for now.
Dan
Hello and welcome. My name is Daniel, and I’ve been a licensed lawyer for more than 21 years. I’m truly sorry you’re going through this, and I’m here to help. Has the trust been signed, or is it still in draft form?
Draft.
Dan
Thank you for sharing those details with me. I understand this can be a difficult time, and I truly appreciate your openness. I’ve carefully reviewed everything and prepared your answer below. Please take your time to look it over, and don’t hesitate to reach out if anything is unclear or if you have any follow-up questions. My goal is to ensure everything makes sense and that you feel confident moving forward.
You can make specific bequests in the trust. You can create a new trust or amend your current one. For more protection, consider establishing an irrevocable trust. Having local representation would be helpful in this situation. Your State Bar Association or the American Bar Association (www.americanbar.org)often offers referral services or legal aid programs that can provide free or affordable assistance. For private attorneys, websites like www.Avvo.com and www.Justia.com make it easier to search for lawyers near you, sorted by their specialties.
Does all of that make sense to you?
Dan
I want to make sure everything is clear and easy to understand. If you’d like me to explain anything further or have follow-up questions, just let me know. If everything makes sense and you’re comfortable with the information, feel free to reply with “all set.” Thanks!
Dan
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