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Updated over 8 years ago on . Most recent reply

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1,254
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Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
342
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1,254
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Trusts Marriage Death and Divorce

Rich Hupper
  • Broker / Investor
  • Tewksbury, MA
Posted

Hello BP Friends

I need help understanding claims to ownership in the following scenario.

My father created an irrevocable trust and placed his rental property into it back in 1998. Where he acted as the trustee and his 4 children were named beneficiaries. He was single at this point. 5 years later he married, and has been married ever since. He recently resigned as trustee and my company was named as the trustee. 

I would like to know what claims his current wife will have to this trust should she outlive him. My father has a will but I do not know what it says. I want to know if a will has the power to nominate new trustees.

I am starting to invest heavily into this trust but do not want my title as trustee to be altered by will / divorce / probate.

Thank you for your input.

Most Popular Reply

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136
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43
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Rajeev Kotyan
  • Professional
  • Lexington, MA
43
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136
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Rajeev Kotyan
  • Professional
  • Lexington, MA
Replied

@Rich Hupper: (I am not an attorney) In MA there are very specific laws as to how trusts are to be managed, and naming of trustees. Most of it is spelled out in https://malegislature.gov/Laws/GeneralLaws/PartII/...

Further clarity is had from reviewing of terms of the trust as well as the will.

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