at what point does a trust become a non benifificial instrument and the benificiary can receive the remainder ?

my trust is now under $20,000 with the bank cuase i got cancer last year and its been used up for bills . its now just in a cash status with the bank. do i have legal rights to receive the remainder at once.

Asked on June 17, 2009 under Estate Planning, Pennsylvania

Answers:

L.M., Member, California Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

I assume you are referring to a living trust that you set up for yourself, where you are the trustee and, until you die, you are the beneficiary.  As long as that is the case, you can do what you want with the trust funds.  If it is a trust that someone else set up and you are the beneficiary, as long as you are complying with the terms of the trust, and you are entitled to receive the funds as the beneficiary without any trust restrictions as set out in the trust document, then yes, the money is yours to do with what you want.


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