2006-11-12 14:22:32 · 4 answers · asked by mama4e 2 in Business & Finance ➔ Personal Finance
It depends how it's set up. I am the executor of a friend's estate and he has it set up so that the money is dispensed as I see fit until they reach the age of 25. Then they get the bulk of it. However, it can be set up with any stipulations imaginable. Some set theirs up to get a certain amount at 25 and the bulk of it at 30. Or whatever the case may be.
2006-11-12 14:32:14 · answer #1 · answered by fastlanejiggy 4 · 0⤊ 0⤋
A trust fund must be distributed as per the instructions of the person who originates it. You as the trustee would only gain control at a certain age if it were so stated in the original trust instructions. Some trusts are called revocable trusts, meaning the originator can change the rules as to how it is paid. I wouldn't make them mad or they can cancel it.
2006-11-12 22:35:08 · answer #2 · answered by the_buccaru 5 · 0⤊ 0⤋
Depends on the terms of the trust. The trust could be set up to pay you when you're 18, 21, 30, or even 100. There's no "I'm 18, I get it" law. It's all in how the person establishing the trust fund set it up.
2006-11-12 22:30:51 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I'm thinking you must mean the age of Maturity and if your name is the only one on it then yes, you should have complete control over it!
2006-11-12 22:31:30 · answer #4 · answered by Carolyn T 5 · 0⤊ 1⤋