I've read several places that his will mentions a trust created in 1995. Wills are public, trusts are not. I'm guessing if his kids inherit anything, the details will be in that private trust.
Thank you. I'm not sure I knew wills were public other than they do go into probate, depending on estate value and that maybe makes them public record, I honestly don't know. I think of trusts as usually to protect kids or a generation or two, etc. limiting when they can receive such, or for what, and at what age. It isn't always the case I know, they can be for charities with directions on how to handle, and of course a trustee and so forth. Some things can be done for tax purposes too.
I wouldn't claim to know much about such but I do know this much, it varies like much does from state to state. And then there's federal law if any on a subject matter. Gift tax, and so on. A subject in itself.
So a trust in 1995 to get back to the point here. So 30 years ago... If you've read it many a place then I'm trusting it's legit places as I know you do and most likely true, that there's a trust. Like I said, there's a lot of garbage out there or rubbish as some would say lol.
I don't really care in one sense but I'm not satisfied with this case yet and think some questions and answers still "dangle". He had a huge estate and a lot of money. I don't want to make it into anything nefarious, I'm just not yet satisfied.
I appreciate the response very much.
It's funny in that I also have worked around wills and trusts back when in my life but laws change, things change and it was a long time ago. Trusts I mostly saw with those who had major money/assets and it's not that someone with enough but a lot less can't do them, they simply maybe aren't as concerned about that kind of planning or they die at a younger age, etc. One brother of mine did a trust. The other had no will at all until known to have a terminal illness, then family members had him do such but no trust.
I'm kind of sidetracking as I do but I'd tell everyone to make their bank accounts and retirements, etc. COD or POD, it can differ depending on where but it means cash on demand or payment on demand if I recall. It's an easy thing and it avoids probate with that. Life insurance too can have that. It also doesn't get counted then for the amount to reach a full probate level. It lets the family or named executor quickly access such and can help pay for funeral expenses, the bills until all figured out, etc. That too is a subject in itself. I only bring it up because I think many don't know it. I don't have a will myself but did talk to an atty. about wanting to do such not too many yrs back then life threw curve balls, etc. and there's nothing much to worry about BUT I'm now thinking I should do that again for a few reasons.
My mom tells EVERYONE to do COD or POD on all they can and I'd agree with that. However, something like this case is going to be far bigger than most of us littler people anyhow.
A trust could have an age the kids had to be or conditions. Or it could be for charities, etc. Trustees could be a bank, a family member, a friend, do I have that right, that's how I recall such. Lol I've always said do a bank or some such, someone with no personal interest because there's nothing like grief that can cause a lot of misunderstandings. Seen such with quite a few families.
I'm doing my wandering, sorry.
I dislike the b.s. going on out there about this big time and it makes it so disrespectful and some are just going on with assumptions, that's both in comments and reporting. Sensationalism big time.
I am though not where I'm yet okay with the answers because all the answers aren't in and I'm just not sure I buy them. I truly only do that in an few, for instance I will never believe there was no foul play in the death of Alex Cox in Daybell. Joe I'm more torn on.
It's also a reason I don't generally follow things with the famous, because the hype will have some suspicious forever. Or sensationalizing. However, sometimes it is true.
Yeah, wandering. Again thanks for the answer. I was going to look up to find what I could that I thought might be legit but hadn't yet.
Been doing dishes, refilling the cat food pail after washing it and such things. Fun stuff, not. Texting a friend, daughter should be coming by in next hour or so, etc.
This thread started in another, then got it's own and then went silent. While out there all sorts of b.s. is going on.
Anyhow again thank you.
I don't really care if kids got anything, or nothing, charity did, etc. other than knowing the answers here and being satisfied. And those things play into that or can. Or they don't at all.