Skip Generation Trust
My father in law has created a GST, however, the problem is that my wife does not have any children while her sister has two. She is afraid that she is being cut out of most of her parents will due to the fact that she does not have children and the trust will be left for her sisters children. Does my wife have the right to draw from her portion of the trust during her lifetime? She truly believes that she is being wronged.
Permalink Submitted by Alan Spross on Wed, 2008-09-10 01:09
That question can probably only be answered by an experienced trust attorney in the state in which the trust provisions are adjudicated, and after a thorough review of the trust document.
Estate law is generally concerned with protecting the wishes of the decedent whether they are fair or not. A decedent has the right to leave their assets to anyone they wish regardless of whether it is fair to potential beneficiaries, and in many cases the decision is patently unfair for both intentional and unintentional reasons.
Perhaps Bruce Steiner has some observations on this and/or has seen some cases similar to this.
Permalink Submitted by Bruce Steiner on Wed, 2008-09-10 03:12
Alan is correct (except that in most states, you can’t disinherit your spouse). The Will or trust instrument will set forth the terms of the trust.