My question involves estate proceedings in the state of: NC
My parents have put their property in a trust which will transfer to me. They also transferred their deposit accounts to me about five years ago to manage. I have an older sibling who partially disabled due to stroke, has trouble with numbers and relys on her husband for help managing money. My question is since my parents have transferred all their assets to me how can we contruct a will to divide these assets. Can they specify in their will how these assets should be divided or since their deposit accounts are in my name it would be my decision. Can they state in their will I should manage my older siblings half of the money. They did not want to create a trust due to management fees. They want to have the assets divided equally but wanted to make sure they benefit my sibling and children instead of her husband who tends to waste money.
In regard to the property which is in the trust. Can a will place conditions on trust property such as if it is sold the funds should be divided equally between beneficiaries.
My parents have put their property in a trust which will transfer to me. They also transferred their deposit accounts to me about five years ago to manage. I have an older sibling who partially disabled due to stroke, has trouble with numbers and relys on her husband for help managing money. My question is since my parents have transferred all their assets to me how can we contruct a will to divide these assets. Can they specify in their will how these assets should be divided or since their deposit accounts are in my name it would be my decision. Can they state in their will I should manage my older siblings half of the money. They did not want to create a trust due to management fees. They want to have the assets divided equally but wanted to make sure they benefit my sibling and children instead of her husband who tends to waste money.
In regard to the property which is in the trust. Can a will place conditions on trust property such as if it is sold the funds should be divided equally between beneficiaries.
Wills: Will Instructions Regarding Trust
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