Trust Beneficiary Question: How do I get more money from my trustee? ( new online free video on getting more money from a family trust)
How in the world can you get more money from the trustee of your trust? If you are a trust beneficiary and are wondering how to get more money from your trustee, consider this free, online video about getting more money from a trust.
Understanding Your Right to Trust Money
- If you want more money from the family trust, consider first what the trust says
- Under what circumstances does a trust let you get money?
- Can you simply demand money and is the trustee obligated to pay it to you?
- Are trust distributions in the DISCRETION of the trustee?
- What’s the difference between income distributions and principal distributions?
- Trust beneficiaries should know their rights. Why?
- Because odds are that your parents and rich relatives who you may inherit from areusing revocable trusts.
- At least in Florida, many Palm Beach probate lawyers write living trusts for their clients. That means your mom or dad’s revocable trust becomes an irrevocable family trust when they die. And then you have to deal with some trustee or trust lawer fromBoynton Beach or Jupiter who you may never have met before.
- You need to understand that :
- 1) your inheritance may not be given to you outright: no check cut to you, no bucket of cash thrown in your lap (necessarily);
- 2 ) trust beneficiaries view having their inheritance tied up in a family trust as “handcuffs” on your family money & inheritances: your inheritance is in a jail cell; and
- 3) the family trustee = warden
- You mean that I have to ask a trustee for my own inheritance?
How do I get more money from my trustee?
- After you understand what the trust says, and what your trust beneficiary rights are, you can then consider how to ask for more money
- Ask any trust lawyer Palm Beach and she will tell you that requesting money for atrust beneficiary from a trustee of a Florida trust is almost a sub-speciality of its own
- In fact, many trust cases make it to Palm Beach probate court when trustees and beneficiaries don’t agree
- There are courts in Palm Beach County, Florida which hear trust cases in Palm Beach Gardens, Delray Beach and of course downtown in West Palm Beach
- So, if you are a trust beneficiary and you ask your trustee for trust money and you get don’t get it, you can ask the court to intervene and over rule the trustee
- But be mindful: you may have to pay attorneys fees to the trust if you lose
- So, do you know how to ask a court to over-rule your trustee?
- Do you know what you have to prove to get more money in a Palm Beach trust proceeding?