Can a will override an irrevocable trust?
A Will does not “override” a Trust and vice versa. An asset properly placed in an irrevocable trust is no longer part of the grantors estate and the will has nothing to do with it. Because the asset is no longer owned by the grantor it cannot be subject to the grantor’s will.
Where does your sister live when she has a will?
Your sister lives in Montana, though she has a winter home in Arizona. Your parents lived in Arizona when they died. They signed their wills and trust in Arizona, and their lawyer was in Arizona. If you have to sue your sister, which state has jurisdiction?
Why are siblings not allowed to be trustees?
No matter what they do they can’t win. If they are lenient with what their sibling wants they don’t uphold the original intent of the trust. If they adhere to the rules of the trust the other sibling is often offended. No one wants to have to write to their brother or sister to ask for money.
What happens if I set up a trust for my Sister?
The trust will allow her to spend any interest how ever she wishes if she doesn’t make any other withdraws on the account for the year. It will allow her to purchase a home or vehicle as long as the lawyer signs off.
Where does the trustee of a trust live?
Let’s say you have a disagreement with your sister, who is trustee of a trust your parents created. Your sister lives in Montana, though she has a winter home in Arizona. Your parents lived in Arizona when they died.
No matter what they do they can’t win. If they are lenient with what their sibling wants they don’t uphold the original intent of the trust. If they adhere to the rules of the trust the other sibling is often offended. No one wants to have to write to their brother or sister to ask for money.
Your sister lives in Montana, though she has a winter home in Arizona. Your parents lived in Arizona when they died. They signed their wills and trust in Arizona, and their lawyer was in Arizona. If you have to sue your sister, which state has jurisdiction?
Can a sibling win in a trust case?
No matter what they do they can’t win. If they are lenient with what their sibling wants they don’t uphold the original intent of the trust. If they adhere to the rules of the trust the other sibling is often offended.
Can a sister be the executor of an estate?
In the case of an estate, the primary job of the executor is to identify all of your mother’s assets, ascribe a value to them and carry out the provisions of the will (if there is one or, if not, then the specific state intestacy laws). If there is no will, your sister would be known as an administrator rather than an executor.