I have a very dear friend of mine that I have known since high school contact me through Facebook. He works in the oil and gas field in South America and was coming back to see his father who was deathly ill. Sorry to say, his father passed, but at least my friend got back in time to see him alive. He had a lot of different things to take care of, one of them being the family trust.
He asked me for his help and advice. He had a living trust that named another family member as the executor. They didn’t know how to decipher this trust (due to it being in lawyer jargon) so I explained it to him. His other family members weren’t as trusting, so I brought them to an attorney for a reading.
The living trust stated at the death of the last parent all assets were to be sold off and divided among the siblings. The one family member who was the executor acted like she was the king of all the assets and was bulling the other two siblings. I find it amazing how a family can fight over assets from the death of a loved one instead of thinking of it as a gift.
Comments(2)