Revokable Trusts Questions
I will try to make this long story as short as possible. This is in TN
My wife's grandparents had a trust setup that there land and house will be split equally between their 2 children. My wife's dad and aunt. Her grandpa passed 15 years ago leaving only the grandmother. 7ish years ago my wife's aunt passed (not married) leaving one daughter. A couple years ago my wife's father passed (not married) leaving my wife and her sister. Both of those estates was settled. Her father had a GF when he died and she made life HELL with his estate. Lots of lying and she sued the estate claiming he told her she was to get everything. She clearly lost in court but it still made life awful for 3 years.
I tell you that to tell you this. The GF and the grandmother had each other's back during the estate battle (the GF is a very convincing lier and was manipulating the grandmothers emotions) We had to minimize any communication with anyone dealing with the GF of my father in-law. So we stepped away from the family farm for a while with very minimum contact with anyone on that side of the family while the estate was tied up in this lawsuit the GF started.
Apparently the trust was revokable and the GF convenienced my wife's Grandmother to remove my wife and her sister from the trust and to put her name in place of their name. Not only on the trust, but on the life insurance policy, and the bank accounts. (About 3million in assets and cash) All that is fine if that is what the grandmother truly wanted. The issue is that since the GF got what she wanted, she also stepped away from the farm and left the grandmother high and dry no contact in the last 6 months. We have learned that the grandmother has dementia. She has good days and she has bad days. She swears up and down on good days and bad days that she does not remember changing the trust. But we have copy's of that and other proof of the changes.
The grandmother has maybe 6 months to 1 year left to live. The grandmother currently says she wants the GF's name off of EVERYTHING. We did get her names off the bank accounts, CD's, and life insurance, not the trust though. When the time comes around to have it changed, she has forgotten that we talked about changing anything some days she forgets the awful things the GF has done to our family and refuses to go have anything changed.
If we get the trust changed the GF will use again saying she was not in her right mind to change the trust.
If the trust is not changed. We will do the same and say she was not in her right mind to change it the first time from the original.
What is the best course of action to move forward with this mess. And what to collect that will help us keep this farm and land in the family. So that this awful leach of a GF will not benefit from this.
The GF has already retained the lawyer that changed the trust and the original lawyer refuses to Change the trust again. This has all happened in the last 2 years.
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