Draft your Trust to Include ALL Intended Beneficiaries
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.