Curious Me
Who When Where What Why & How
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- Jul 19, 2009
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There were two issues addressed in Dia's Court filing, as I understand it.
(1) She requested the Invalidation of the Prenup. Ultimately Dia requested that the Court void the terms of the Prenup that eliminated the accrual of community property during the marriage of Clem and Dia. In essence it cut her out of owning half of the community property. The list of properties was extensive and that Prenup was signed 35 yrs. ago under duress.
(2) She was also requesting an additional five to six million dollars that she felt was owed from the Family Trust to the Martial Trust due to an unexpected change coming from the Tax Cuts and Jobs Act (TCJA) signed into law December 2017."
(Please correct me if I'm wrong. In my limited understanding and in simple terms, this meant there was less estate tax owed, and so Dia wanted that taken into consideration and the money $6.7 million put into her Martial Trust.)
BBM and All MOO.
Did I explain it half way correct?
Wouldn't a trust take five years if a person is missing?
I don't want to answer your question without understanding it better. The trusts for Clem Abrams would have become effective at his death immediately, that's kind of the point of the one he had drawn up. Dia's trust was a living trust which become effective at signature. Or am I not understanding what you are asking?
For a full reply, please see my above quote. In my limited understanding and in simple terms, this meant there was less estate tax owed, and so Dia wanted that taken into consideration and the money $6.7 million, taken from the Family Trust in which the children were controlling trustees, and put into her Martial Trust. I imagine if Dia died, the children could contest anybody else being named a beneficiary. Boy oh boy, I would have had a Prenup for my new marriage if I was a wealthy woman with all that property. I don't know why she made those transfers or what the reason was before she disappeared. I wish someone could fully explain. That small parcel of property was somehow transferred / sold for a low amount after Dia was gone. So confusing, and I have tons of questions.
Please know I have limited understanding how it would work in a Trust. It's different with life insurance policies which often don't pay out if there's a hint of foul play or ongoing investigation linked to the beneficiary.