Q: Brother and I are coexecutors of trust. He owes $250,000 to creditors, how do I protect my half of inheritance ?
Trust consist of two homes. Total mortgage owed on both homes is $180,000. We live in San Francisco Bay Area, San Carlos. I know California tax laws are INSANE! I don’t want to make a wrong decision that could have lasting effects on me financially.
A:
Depending on how the will is worded and if the math works out it might be possible to distribute one house to you and the other to your brother. That way your brother’s creditors won’t be able to reach your inheritance.
Schedule a consultation with a probate attorney to review your options.
A: Nina is right of course, but the answer is even simpler. Your brother’s debts are not your debts. His debts are also not your mother’s debts or debts of her trust. Presumably you are entitled to one half of your mother’s trust after her debts have been paid, and your brother is entitled to the other half. Decide on your share and his share. Perhaps your share is one house and his share is the other house assuming equal values for each, or perhaps you sell both houses and divide cash. Regardless your share is not subject to his debts and his share is not subject to your debts. Enjoy your inheritance.
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