GRIT - beneficiaries - revoking

[Sally Hill]

Jurisdiction

New Mexico

My father had a GRIT. If I understand correctly, lineal descendants cannot be beneficiaries, is this correct? My father told me my siblings and myself would inherit the land placed in the GRIT, but perhaps he was misinformed or was lying. Seemingly, he was the grantor and trustee equally with my mother who was also a grantor and trustee.

He got ill and when his death was imminent, I believe he was forced by my mother and one sibling to sign to revoke the GRIT 3 months prior to death - was this legal?

How would one go about deeding assets in a GRIT to lineal descendants? I know at one time I saw a deed with all 3 siblings name on it and he was telling us we would all equally inherit the asset. He wanted us to move and live on the land with our parents and take over the operations.

My mother and 1 sibling are acting alone and behind the backs of the other 2 siblings. I'm just trying to piece together how the property was going to flow to the children if the GRIT didn't allow lineal beneficiaries. Any ideas?

 

[army judge]

My father had a GRIT. If I understand correctly, lineal descendants cannot be beneficiaries, is this correct? My father told me my siblings and myself would inherit the land placed in the GRIT, but perhaps he was misinformed or was lying. Seemingly, he was the grantor and trustee equally with my mother who was also a grantor and trustee.

He got ill and when his death was imminent, I believe he was forced by my mother and one sibling to sign to revoke the GRIT 3 months prior to death - was this legal?

How would one go about deeding assets in a GRIT to lineal descendants? I know at one time I saw a deed with all 3 siblings name on it and he was telling us we would all equally inherit the asset. He wanted us to move and live on the land with our parents and take over the operations.

My mother and 1 sibling are acting alone and behind the backs of the other 2 siblings. I'm just trying to piece together how the property was going to flow to the children if the GRIT didn't allow lineal beneficiaries. Any ideas?

Anything your father did while he was alive, of sound mind and body, can't be undone after his death UNLESS such actions are proved to be fraudulent.

It won't be undone just because you disagree with what dad is alleged to have done.

It won't be undone because you failed to benefit by dad's decisions.

The time to have investigated any such transactions, if you had standing, was while he was alive.

If you have further concerns, I suggest you speak with a NM trust and estates attorney.

It would be very helpful when you visit one to take all documents you beleive to be in question.