Posted on: 02nd Jul, 2007 09:03 am
If there is a Will and a Trust where there is also cash and not stated in the Trust ,is this also considered part of the estate?
If the cash is not included in the trust then it will part of the assets included in the will and go through the probate process.
"If there is a Will and a Trust where there is also cash and not stated in the Trust ,is this also considered part of the estate?"
What I understand is that cash is not included in the trust, but does the will mention how the cash will be divided?
Miller
What I understand is that cash is not included in the trust, but does the will mention how the cash will be divided?
Miller
Mr. Miller,
Both Trust and Will do not mention anything with regards to cash or bank accounts.
Both Trust and Will do not mention anything with regards to cash or bank accounts.
All property belonging to a person after his death becomes legal property of his estate.
And estate property then passes on to heirs through the legal proceedings in a probate court.
And estate property then passes on to heirs through the legal proceedings in a probate court.
Hello Dorothy,
If certain amount of cash is mentioned in the Will, then, it becomes asset. An asset would be considered a part of the estate.
If certain amount of cash is mentioned in the Will, then, it becomes asset. An asset would be considered a part of the estate.
Dorothy,
If the cash is not mentioned in the will, then it is not a part of the Trust. Hence, it would not eb considered part of the estate.
Rosetta
If the cash is not mentioned in the will, then it is not a part of the Trust. Hence, it would not eb considered part of the estate.
Rosetta