What does the phrase
UPDATED: Oct 2, 2022
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What does the phrase
My portion of my mother’s estate goes into a trust fund and states that it is to provide the lifestyle I’m accustomed to. How is that determined?
Asked on September 17, 2019 under Estate Planning, Iowa
S.L,. Member, California Bar / FreeAdvice Contributing Attorney
Answered 3 years ago | Contributor
The "lifestyle to which you are accustomed" refers to your living conditions, expenses, income, etc. For example, if you are living in a house valued at X and the mortgage is X, you would continue living there or in something comparable and would not be compelled to live in an apartment instead of the house. If your expenses are X, the Trust would pay an amount to cover your expenses, instead of a lesser amount.
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