Q: My Mom is ill, and is a a beneficiary out of 4 siblings. The trust is now irrevocable.
Can she have the trust changed - only to specify that if she passes before distribution of assets of the trust, for her percent to go to her daughter? At current the trust states any departed beneficiaries percent is to be split amongst the remaining siblings. She is trying to prepare her own trust and is very mentally stable to do so, but does not want her other siblings to have her percentage of her inheritance. One reason is because all of her siblings are very financially stable and she falls under poverty status, and on disability. Her daughter is grown and decently successful but she wants to make sure her daughter has some security if she were to pass before the trust is distributed to the beneficiaries?
A:
When you say trying to prepare her own trust, is she working with an estate planning attorney? If she is ill and near death, this is not the time to be DIYing. She has more important things to worry about like spending time with family, seeing friends, and doing what she whats to do to the extent she physically can.
Working with an estate planning attorney will be able to read the trust in which she is a beneficiary and determine if she can appoint her trust share to her daughters. This is a concept few people know about if they are neither an estate planning nor a trust administration attorney.
I wish you well.
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