this trust fund so that he can't withdraw any money from it? Why doesn't he just write him a check? It's been 3 years since she died and all his brother mentions is this trust fund but where's the money?
2007-01-26 13:52:50 · 7 answers · asked by sheree 2 in Business & Finance ➔ Personal Finance
FACT ONE. Is the brother a minor or perhaps trust has some restrictions....if he is 18+ or 21+ most times I see the trust being accessable although other stipulations may certainly exist.
However, I get the feeling that he hasnt got ****. I would ask that douche what type of trust it is. When he doesnt know, then mention a few types that he probably doesnt know about (since after all he likey doesnt have one) like an ILIT, bypass trust etc. Here is how I know hes a bullshitter (besides I my day to day job has interaction with people rich enough for "real trusts" ...Reason one he is a liar...--they are expensive to set up and require special tax filing. Ask him what income tax he paid on the trust last year on the trusts income/profits etc. HE WONT KNOW BECAUSE HE IS A LIAR--two--tax laws arent so bad and only the truly FILTHY rich need trusts to shelter money. He got on the internet and heard someone mention trust and then thinks he will impress people. Usually too if his mom was fair, she split the assets up between the kids....if your boyfriend had a trust fund...trust me he would know. He'd have to file taxes for it. Tell that douche that he needs to drop his pizza delivery job, go to SKOOL, get a life and stop dreaming of things that dont exist. Dreaming about money obvoiusly hasnt got him anywhere.
2007-01-26 14:11:18 · answer #1 · answered by stuffforsale15001 2 · 0⤊ 1⤋
My guess is that the trust fund was set up to keep your boyfriend from doing something stupid with the money when he's just a kid, like buying a car he doesn't need, or partying. Is this his share of his parent's estate, after they died? If so, it sounds like his parents were smart people. Kids who get a bunch of money all of a sudden are prone to doing stupid things with it - cars, parties, drugs, alcohol. Most don't know how to handle that sort of money.
2007-01-26 14:03:42 · answer #2 · answered by Ralfcoder 7 · 0⤊ 0⤋
You are only ranting when you are asking for things white folks get on the strength of being white. I agree with Cocoa and say don't rule out trust funds and wealth but distribute them fairly to all of the black children of the white men as well. Our society operates on the ethics of convenience. They forget all about the free labor that the strength of the country was built on and spend immeasurable energy whining and screaming like banshees about a welfare or food stamp recipient. What an ugly game!
2016-05-24 03:56:08 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Your boyfriend needs to contact the attorney that took care of the estate with his mom died. You probably should stay out of it. Trust funds have terms and conditions attached, so your boyfriends needs to get a copy of the legal papers. Go see her attorney so he knows what is going on.
2007-01-26 14:06:47 · answer #4 · answered by chris 5 · 0⤊ 0⤋
They probably have an age requirement on it. Maybe 21 or 25 not sure because you didn't say his age. But usually that is how the will is written, that he has to be a certain as to get his inheritance
2007-01-26 14:04:51 · answer #5 · answered by shorty 6 · 0⤊ 0⤋
trust funds have terms attached to them. Depends on how it was set up.
2007-01-26 14:01:28 · answer #6 · answered by Amy 2 · 0⤊ 0⤋
if it is a trust to him, then his brother might not get the money. if it was a WILL he could take him to court. but a trust is a different story. are you sure he is not lying.
2007-01-27 03:31:39 · answer #7 · answered by fleshy queen 3 · 0⤊ 0⤋