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nec777

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  1. I am not asking you to validate my FEELINGS. This was an A/B Trust, My mother's half was to be set aside at the time of her death, making it irrevocable. My mother's husband did not do this. Now he has died and since my mother's 1/2 of the property is named on the deed documents the new wife need's me--the successor trustee, to sign the listing and sales documents. Here's the Questions I have: A loan was taken out on the properties after my mothers' death, should my Mothers Share of the trust be liable for the repayment of this loan? Is there any precedent for me to arguing that since that portion of the properties should have been set aside at the time of her death, no loans should have been taken against it. As well the monies borrowed where used for the care and maintenance of my mother's husband and new wife.
  2. Did not my mother's death make her half of the trust irrevocable? He tried but failed to remove the original trust from the recorded deeds. The deeds now show two sets of owners, the original trust of which I am successor trustee, and the second trust with his new wife--both hold 50% of the properties.
  3. Several years ago my mother and her husband set up a Revocable Trust in which they place two pieces of property they owned of which my siblings and myself where the beneficiaries. My mother died shortly after the trust was set up and her husband was the Trustee. He was suppose to have set aside half the value of the properties and half my mother's other assets to what would now be an Irrevocable Trust---I have now found out that he did none of this. He remarried a couple of years later and quick claim deeded his half of the properties into a new trust with his new wife. He has decently died and I have been made aware as the successor trustee of the original trust that the new wife wishes to sell the house and they need my signature to make that happen. They have offered half the net proceeds of the property after attorney fees have been paid. As well a loan was taken out on the property after my mothers death and this need to be repaid. I do not feel my mother's half of the trust should have to repay the loan or pay the legal fees of the new wife, I would except to pay my own legal fees as needed out of my share and she pay out of her share. Is this reasonable? As well my mother had other assets and retirement accounts that were to be divided at the time of her death, but the new wife's attorney says we are just out of luck and lucky they contacted us to let us know about the potential property sale.
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