Can i get a large sum of money from my trust fund/ inheritance

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Can i get a large sum of money from my trust fund/ inheritance

My father passed away 5 years ago. He left me and my siblings an inheritance. I have no communication with them, nor my father before his passing. I get $850 a month from my inheritance. My father left me a large amount of money but wanted me to get it in payments each month. I’m homeless and can use money to get a place. Can I get a large sum?

Asked on August 27, 2017 under Estate Planning, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You can only get a lump sum payout if the documents creating or establishing the trust say you can get a lump sum under certain circumstances and those circumstances apply, or if they give the trustee discretion to choose to pay you out in a lump sum. The trustee cannot do anything which is not authorized or directed by the documents creating the trust, so the answer to your question depends on what those documents say.


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