My question involves estate proceedings in the state of: Ca
My fathers Trust involves a strange specific term which tells the Trustee that "if" and "whenever" he decides to sell properties in the trust, the proceeds of the sale(s) can "only" go to a home mortgage of a benificiary which must be at least 5 years old . If no mortgage exisit at the time of sale(s) , the money is to be placed into a trust fund for him/her until a mortgage does exisit . The Trustee is my fathers friend and there is no comunication at all with with him . My questions can go all day due to no details to go with that statement . What if a mortgage of $50,000 exisits and the payout after sale(s) goes to each benificiaries mortgage company and that is $500,000 total , there would be a balance of $450,000 , where would that balance go ? Or what if I have no mortgage and never want one , would a payout ever come even after the trustee dies, ( and there is no alternate) ?
What would be the best way to go about this ,if any ? Thanks .