Can monies from a trust that are to distributed when a child turns 21 legally be diverted until that child is older?
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Can monies from a trust that are to distributed when a child turns 21 legally be diverted until that child is older?
I have a daughter who is a run-away from age 16. She is due to receive a distribution on her 21st birthday which is in about 12 months. Can this money be taken out of the original trust as designated and be put in a trust for her to mature in 5 more years? She has been hospitalized twice while a run-away and could not pass a drug screen if necessary.
Asked on December 6, 2011 under Estate Planning, North Carolina
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
In order to answer your question with respect to the trust that you are writing about for time of distribution, you will need to carefully read the language of the trust in that it controls how the distribution of funds are to be made concerning the child that you are writing about.
If the person who created the trust that you have written about is still alive, and if the trust is a revocable trust, then the time period for distribution can be extended most likely. Perhaps consulting with a Wills and trust attorney may be of some assistance to review the trust.
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