My question involves estate proceedings in the state of: TX
I read an original Last Will and Testament of a grantor on how distributions are allocated and the spouse of the grantor was to receive discretionary distributions and the children received mandatory annual distributions.
However, one of those children, passed away in December 1970 before her mother, who passed away in 1978. My mother who I assume started to receive distributions in 1971 after the death of my grandmother, per stirpes is indicated in the Will.
My issue, as a remaindermen, as I understand the will, is the per stirpes language in the Last Will and Testament of grantor. I believe it is the intent of the trust to allocate income equally among all family members, however the per stirpes language when applied to life events, does not address income equally among all family members, especially later generations. For example, my grandmother passed away in 1970 and my mother has received income from the trust since the 1970s and she was in her early 30s when she started to receive this income. My status as a remaindermen, at age 48, will most likely mean I will receive income from the trust, I assume, when I am in my late 50s or early 60s, assuming my Mom lives into her 80s or early 90s. I think the per stirpes issue needs to be addressed, along with when family members are entitled to distributions, and how much each family member receives.
Is there a probate case, or language in the Texas probate code that would allow for modification of the Last Will and Testament of the Trust, where distributions are allocated based on age, rather than per stirpes (death)? I think this type of allocation would seem fair to the remaindermen (our generation) as far as when and what they receive from the Trust. The Trust ends 21 years after the death of the last remaining grandchild, ie. my Aunt. My moms sister.
I read an original Last Will and Testament of a grantor on how distributions are allocated and the spouse of the grantor was to receive discretionary distributions and the children received mandatory annual distributions.
However, one of those children, passed away in December 1970 before her mother, who passed away in 1978. My mother who I assume started to receive distributions in 1971 after the death of my grandmother, per stirpes is indicated in the Will.
My issue, as a remaindermen, as I understand the will, is the per stirpes language in the Last Will and Testament of grantor. I believe it is the intent of the trust to allocate income equally among all family members, however the per stirpes language when applied to life events, does not address income equally among all family members, especially later generations. For example, my grandmother passed away in 1970 and my mother has received income from the trust since the 1970s and she was in her early 30s when she started to receive this income. My status as a remaindermen, at age 48, will most likely mean I will receive income from the trust, I assume, when I am in my late 50s or early 60s, assuming my Mom lives into her 80s or early 90s. I think the per stirpes issue needs to be addressed, along with when family members are entitled to distributions, and how much each family member receives.
Is there a probate case, or language in the Texas probate code that would allow for modification of the Last Will and Testament of the Trust, where distributions are allocated based on age, rather than per stirpes (death)? I think this type of allocation would seem fair to the remaindermen (our generation) as far as when and what they receive from the Trust. The Trust ends 21 years after the death of the last remaining grandchild, ie. my Aunt. My moms sister.
Heirs and Beneficiaries: method of distributions to a trust
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