Is it possible to access all of my trust fund at once? For College.

Get Legal Help Today

 Secured with SHA-256 Encryption

Is it possible to access all of my trust fund at once? For College.

I have a trust fund of about 40k and its going to be given to me when i’m 18. in
bits and large pieces for idk how many years. I need the full amount because i
want to study abroad in Germany. Is it possible for me in any way to get that
money?

Asked on October 2, 2016 under Estate Planning, Arizona

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

A trust is governed by the instructions or rules set down when it was created: the beneficiary of the trust cannot force the trust to release money faster than those instructions or rules (i.e. the documents creating the trust) authorize it. The fact that you may have a need for the money does not require the trustee(s) to release it you faster than they are allowed to do under the terms of the trust. If the trust provides the trustees with discretion as to when or how fast to release funds, you can certainly ask them to exercise that discretion in your favor--but they can only do what the terms of the trust allow them to do.


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