Can utilities be paid out of the Corpus of an irrevocable living trust?

Get Legal Help Today

 Secured with SHA-256 Encryption

Can utilities be paid out of the Corpus of an irrevocable living trust?

I am the trustee of an irrevocable living trust which has purchased a property. My Mother is the life income beneficiary.

Question – as trustee, can I pay utilities Gas, Electric, Oil, Water, House Insurance on the property out of the principal Corpus portion of the trust?

Thank you

Asked on February 14, 2018 under Estate Planning, North Carolina

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

It depends entirely on the terms of the trust--that is, what do the documents creating the trust allow or authorize? How much discretion do you, as trustee have? Etc. Trusts are governed by the papers creating them: the trustee can do whatever *that* trust specifically directs or authorizes, and nothing else.


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.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption