If my mother and father each had separate Trusts of which I was the benficiary, can I now combine them?

UPDATED: Oct 7, 2014

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

UPDATED: Oct 7, 2014Fact Checked

Get Legal Help Today

Compare Quotes From Top Companies and Save

secured lock Secured with SHA-256 Encryption

If my mother and father each had separate Trusts of which I was the benficiary, can I now combine them?

My mother created a Trust for me which the assets flowed into when she passed last year. I would like to take the assets from this Trust, along with the distribution that I receieved from my fatheer’s Trust and create a new Trust in my parents’ names. It would benefit my child and their kids if they have any. Is this possible?

Asked on October 7, 2014 under Estate Planning, Florida


M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

Are your parents still alive?  If they are not then they can not create a trust posthumously unless it was done so in their Last Will and Testament.  I would speak with some one who does some estate planning AND an accountant as to the ramifications of breaking the trust.  The Trust document(s) should say the duration and terminating them early could result in tax consequences.  Good luck.

IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

secured lock Secured with SHA-256 Encryption