The answers to my earlier question got me thinking. I will receive a considerable amount of money from a trust now that my Mother died. I don't really need the money. At current exemption levels there is no harm to having it, but who knows whether they will drop sharply.
Anyhow, if I refuse the money, it would go to my wife. If she refuses it, it would go to our two sons. Is that right? I have read through the trust agreement and it says nothing about this. (It is all in NYS) Assuming it works as I expect, it is a really easy way to gift them.
How does it work? The trustee sends me papers to sign and I refuse. They send my wife papers to sign and she refuses. My sons then get them and they do sign. Is that about it, or is it more complicated.
- posted 5 years ago
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