Revocable Living Trust Question
I have met with a few attorneys regarding setting up a revocable living trust and I am not getting a consistent answer in one area. I want to set up a trust and allocate X% or $ to my mom and X% or $ to my son. Both will be my beneficiaries. However, my mom will also be trustee upon my death because my son is not even 1 year old yet. What I want to happen is if I die and my mom also pass away later, then anything that I allocated to her in my trust (whatever is left) will roll over to my son as sole beneficiary upon her death.
Given the scenario above, some attorneys told me that my mom will need a to set up a trust of her own while others told me that it can be done like how I wanted and that my mom doesn't need to set up a trust of her own. Which answer is accurate? Please advise.
Thanks!
Last edited by minoly; 01-21-2011 at 01:26 PM.
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