A/B Trusts

Dear Len & Rosie,

My husband passed away recently after a courageous 19-year battle with prostate cancer. We made a revocable trust five years ago. The trust leaves everything to my husband's son and grandson, with a larger share passing to the son. I have no children of my own. I would like to change the beneficiaries to leave everything to my stepson and grandson equally. Do I need to make up another revocable trust in my name, now that my dear husband is gone and designate the two of them jointly as primary beneficiaries? Also, will I get the stepped up value on my husband's half the property as of his date of death?

Pat

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Written by Len Tillem On Tagged

Wills and Advanced Health Care Directives

Dear Len & Rosie,

I have a friend who is dying of cancer. Doctors have given her two months to live. She has no will or living trust. She has no estate, but does have furniture. The furniture is not worth much, maybe $5,000. Can I create a video tape of her stating what she would like done with her belongings? 

She also asked me to have her cremated and her ashes scattered in the Pacific Ocean. She has no money so I was going to pay for all these services myself. I don't mind cause she is a dear friend.

I'm concerned if I do all this, could I get in trouble. She has no heirs whatsoever. She is an only child, never married and no children. She came over from France about 35 years ago. I wanted to get a lawyer out to her apartment, but it would cost me $1,000 and I need this money for her cremation. What should I do?

Lupe

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Written by Len Tillem On Tagged ,