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[quote=Anonymous]Op here. The attorney who wrote this has retired. Looking for a new one.

My mom had originally left the house (or its value if sold) to the grandkids with me as trustee back in 2015. I suggested to her that I felt badly about cutting out my brother (not realizing how much $ was in the other trust, he was also rebuilding after divorce) so she revised to this, which gives brother income protection if needed, but I doubt she was aware of the tax implications.

Trustee has wide latitude to distribute income based on HEMS and taking other assets into account. So yes we could invest for growth not income now and distribute after he’s retired.

I will consult with a new ca attorney. I don’t think a modification is hard that allows the trust to get step up basis on my brothers death. Maybe we will stick with that. I just don’t love the idea of managing an income distribution for my older brother for the next 30 years. He plans to leave his estate to my kids anyway (but plans change, people get remarried or dementia etc etc).

If we decide to disclaim and gift, I was thinking that each of us (me brother kids) gets 25% of the house and brother and I split the cash/mm accounts. That seems “fair” to me but perhaps not what my mom wanted….will discuss with attorney. I really don’t want any rift between the two of us.

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