Deed of Trust

Question: How do I find details on an existing trust fund?

My grandfather, who is still living, told me that he set up a trust fund for me and for the other grandchildren. We were all over 21 when he set it up. He will not give me any other details. I'd like to know when I'll receive the funds and how much they'll be. Is there a way to find out this information through public records, deeds or etc?

Answer: No. Such trusts are private and generally only the grantor(s) and the trustee(s) have access to the details.

6. California Trust Deed Investing: The Process

Question: I am making an offer on a home, does this sound ok for the closing of the letter?

her attorney wanted me to draft a letter stating that I would like to buy the house and how much it would cost for repairs etc. I wrote the letter intro, a bid estimate, and this is the closing section, does it make sense ok? OR what should I change to make it sound better worded? Thank you.

Answer: It sounds fine, but when you are spending a substantial amount of money such as this, you really should hire an attorney and have a formal letter written. Then it is legally binding and you are not open to any potential situations in the future that could affect your offer.

An American Draft Dodger in Thunder Bay

Question: How split the house to the son, husband and relatives when the wife dies?

I want to set up a trust for the home my wife and I own here in California. My wife is very sick and she might die anytime. She has liver disease. I have Quicken Willmaker. The deed says that I own .5% of the house and she owns the rest as tenants in common. We had it done that way because she put a big down payment down on the house. She wants her adult son to get $135,000 and the rest to be split 2/3 to family friends and 1/3 to me. She wants the money to only go to her son if he does certain things like get a job, stop gambling and lose weight. That is probably not legal using a trust or will, I read. I think she would trust me to carry out her wishes so we could go with a simpler plan. And the only reason for using a trust, is to save us from probate. Please send any suggestion you can to direct us if this is viable or how to reach our goals as closely as possible.

Answer: I hope this will help U, First U need to get your wifes wishes put on paper, and for her to sign the papers in front of a noterary. Secondly if I was U, I would check out the website I have posted in, What's your source. For it is also a yahoo group, that has helped me out on so many legal issues I have crossed paths with. Especially with my Dads estate case, they helped me to legally stand my grounds, against my Dads 3rd wife, who tried to take everything unlawfully. For instance, we did not know, meaning we, the rightful legal heirs. That a inheirtance is not considered as being part of a marriage, in most our courts of law, and that she was only allowed $ 50,000.00 and half the assets. Not the whole of 2 $ 100,000.00 life insurance policys. Anyway, they are a bunch of good guys, and very knowledgeable legal help smart.

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