Legal Question in Wills and Trusts in Florida
my mother in law passed away this year.she set up a trust for my boys ages 2and 11 it states its for educational and health and emergencies.if they complete college they will get 75,000when 11y/o is 35 and 50,000 when 2y/o is 35.is there any way as thier parent i could draw on this trust for any thing.i also dont have healthcare for the kids could the trust be responsible?and do i have a option of changing lawyers?the lawyer is the trustee.
2 Answers from Attorneys
Hi. Your mother-in-law picked the attorney as trustee to make sure the terms of the trust would be properly followed. The job of the trustee is to make sure the trust terms are implemented as stated in the document. You can consult with the attorney/trustee regarding health insurance and other expenses. Depending on the terms of the document, he may be willing to pay for their health insurance, although he is not required to do so. You as the parent have no right of your own to draw from the trust. You also don't have the power to change the trustee.
I agree with David's answer that your mother-in-law picked the trustee to make sure the terms of the trust would be properly followed. That being said (with no knowledge of the specific terms of the document) most Trusts contain provisions allowing the Trustee to pay for items pertaining to the beneficiaries "health, education and welfare." Paying for health insurance may fall under that category. My recommendation is to broach the subject with the Trustee and provide them with a policy invoice for health insurance for the two kids.
However, typically there is no Trust provision or statutory entitlement for a parent to "draw on this trust." The Trust is for your children and not their parents.