What does the clause “maintenance of lifestyle” generally mean in an inheritance trust?

Asked on May 21, 2012 under Estate Planning, Mississippi

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

The term "maintenance of life style" when used within a trust means that with respect to the distribution of trust monies to the beneficiary under the trust, the trustee when making a distribution of such money looks at the qulaity of life that the beneficiary engages in within reason at that point in time in order to maintain that type of life style for the beneficiary of the trust.

For example, if the beneficiary at a specific time is going to school and is working a part time job, but needs funds for education, room and board, the trustee should be cognizant of that fact and distribute money as need be to assist the beneficiary at that point in time in maintaining the acceptable life style at the time.

 


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.