If my wife died a few years ago and left my kids a trust, canI use any of it for finacial distress?

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If my wife died a few years ago and left my kids a trust, canI use any of it for finacial distress?

Asked on January 5, 2012 under Estate Planning, Louisiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

I am so sorry for your loss.  i am assuming that you are the trustee of the trust, correct?  The terms of the trust will govern what you can use it for.  Argiably if you are to use it for the needs of the children and you need to pay for food and shelter then you may be able to invde it for those pueporses.  But I would have some one read it for you and let you know.  Beign the fiduciary requires that you hold yourself to a strict code of complaince or you could be sued some where down the road for breach of your duty.  And you may need to file an accounting each years as well.  Good luck.


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