Irrevocable Trust Inheritance Rules

Summary

The terms of an irrevocable trust in California determine when the inheritance is distributed. There is no law requiring both grantors to pass away before distribution. You might be able to receive your inheritance while your father is still alive, but consult a local attorney for advice specific to your situation.

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My parents have an irrevocable trust
Hello ****! Irrevocable trusts are a common part of estate planning. Could you please specify what kind of information you need regarding the irrevocable trust?
My mom died
I'm sorry for your loss, ****. To assist you better, could you please let me know your location? The laws about handling an irrevocable trust after the death of a grantor may vary by location.
But dad is still alive
I'm sorry for your loss, ****. Even if one parent passes away, the irrevocable trust usually stays in effect. However, the specifics can vary based on your location and the terms of the trust. Could you please provide your location?
Do both people need to die in order to get the inheritance
In most cases, the terms of the trust determine when the inheritance is distributed. There's no general rule that both grantors must pass away. However, laws can vary, so your location would help me provide more specific information.
California
In California:
- The terms of the irrevocable trust determine the distribution of the inheritance.
- No law requires both grantors to pass away before distribution.
- Consult a local attorney for specific advice on your situation.
This is general information and not legal advice.
So I can get money now
Based on the terms of the trust and California law, you might be able to receive your inheritance while your father is still alive. However, you should consult with a local attorney for advice specific to your situation.