Q: What is the process for appointing someone as a substitute in the case of property shares in a living trust?
My grandmother left her home to her five children in a living trust, and my mother and uncle are requesting to leave their shares to me. The property cannot be sold unless all five children agree to sell it, and currently my mother and uncle are living at the property with myself. They would like to appoint their shares to me in the case that they pass away, as they do not want the other siblings to sell the family home and would prefer to keep it in the family. The house is still in the trust and has not sold.
A: Is the property still held by the Trust? If it is, then only the Trust can say how it may be passed.
If the Trust closed down then the Trustee should have deeded the house to the five siblings; then if they want to pass you their 20% interest they can do so with a deed.
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