Legal Question in Wills and Trusts in Massachusetts

Re: Legal Age for Trust Funds

When the assets of a trust can be distributed to the beneficiaries is solely dependent upon the terms of the trust. Some might specify distribution when the beneficiary reaches the age of 21. Others mights specify 25 or even older. Ask the trustee to show you the trust document.

Re: Legal Age for Trust Funds

It's quite common for a trust to instruct the trustee to hold on to the bulk of the trust assets until after a beneficiaray turns 25. The reason for this is that the person who makes the trust is often concerned about the ability of a younger person to wisely manage a large amount of money. Sometimes there is a concern that having the funds available might disqualify someone from receiving financial aid.

In order to know what your rights are, you need to carefully read a copy of the trust document. Write the trustee and ask for a copy. If you do not understand the language, see a lawyer.

Re: Legal Age for Trust Funds

The trust document should be read carefully for a provision indicating what age if any you must be in order for you to have control of the funds instead of the trustee. It could be 25, 26 or more.

Re: Legal Age for Trust Funds

The trustee serves as long as the trust requires them to serve. Assuming you there is no reason, such as competence with respect to you, the Trust should provide for some end by distributing assets at some point in time. You need to read the Trust.

Moreover, it may be if there are children under 21 covered by the trust that the separation of assets has not yet occurred. I suggest you get a copy of your trust and go see a lawyer.

Re: Legal Age for Trust Funds

If there is a true "trust agreement", that agreement would control when the assets can be distributed. As other answers have indicated, the terms of a trust can vary significantly from trust to trust. In some cases, a trust could be for life, with only income being paid to the life beneficiary.

On the other hand, if there is a custodial agreement under a Uniform Gift to Minors or Uniform Transfer to Minors, you may ask the custodian to turn over the assets, if you have attained full age. That is, if the property is being held for you because you were a minor when someone passed away, the "custodian" must respond to your request in accordance with Massachusetts law.

Please feel free to contact me if you need assistance.