Draft your Trust to Include ALL Intended Beneficiaries

    If you are considering an estate plan to ensure that your children and grandchildren are taken care of, you must plan for all possibilities. Many grandparents want the opportunity to take care of any additional grandchildren that come along, whether expected or unexpected. However, if your estate plan does not reflect your wishes, certain family members may not be able to receive the benefits of your advanced planning. If you live in California and are considering drafting a living trust or an estate plan, you should consult with an experienced Los Angeles estate litigation attorney
     In November of 2010, the California Court of Appeals recently heard a case involving the interpretation of a trust. The grandparents, Charles and Serena Papaz, drafted a trust with the intention to leave their only son and his children certain income and assets. However, due to the wording in the trust, the trial court held that one of the three biological grandchildren, Jonathan,  was not a beneficiary of the trust. The determination of whether the family trust's definition of issue (legal term for children) intended to include Jonathan as a beneficiary, went to the California Court of Appeals. Read tomorrow's blog to find out more about the court's decision.
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