What can you do to avoid future conflicts with an estate or trust if you are not directly in control of it?
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I manage some real estate and am the trustee of one of several trusts that owns the property. As the grantors of the other trusts die, the property ownership will become more and more fractured. I just learned that if one of the beneficiaries dies, his property will go to his partner, whom none of us have ever heard of. If his partner remarries, it seems likely that the property will go to the partner's new spouse. Is there anything I can do now to avoid future problems? Can I put the property into another trust where there is more control over the line of beneficiaries? Can the business do anything?
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Answer:
You can look to see if buy-sell agreements are possible.
Andrea Starrett at Quora Visit the source
Other answers
You really need to sit down with a qualified estates/tax attorney. Otherwise you are just looking for trouble. These types of problems require a face to face discussions, brainstorming and analysis with a trained professional. Getting advice is just not a good idea.
Steven J. Fromm
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