Can my father redistribute his loyalties given to him from a will? 4 Answers as of July 21, 2011Can he set up a fund to distribute it? What is the best tax benefit? He inherited the rights from my mom per her will. My siblings and I are to inherit it once my dad has passed, however he wants to distribute it to us now.
Apple Law Firm PLLC | David Goldman
You father cannot redistribute them, unless everyone agrees. He probably can assign his interest or do a disclaimer so that they go to his kids or other beneficiaries. Disclaimers are often the best option, but are difficult to explain and understand and are case specific. You father should contact a Florida Estate Planning Lawyer to discuss your is options and the tax consequences of each. If he needs help and is not represented I would be happy to talk with him.
Answer Applies to: Florida