Legal Question in Wills and Trusts in New Mexico

Trustee

My mother is my trustee to almost 100000 dollars and I dont think she understands how it works or maybe I dont understand. What is the money supposed to be used for? Right now she gives me money for my cell phone bill, car insurence, and gas money to get to school. This is really bother some because I would like to get money for gas to go hang out with friends and other things like that. Also can she give me money for just spending? Another question I have is can I get spending money? I am going to school full time and it is really hard for me to have a job and attend school and be successful. So i believe it would be nessary to have spending money and gas to go hang out with friends. Thank you for reading my many qustions and I will be looking forward to your respoce. One more thing can you give me resourses to prove my point to her. Again Thank You.


Asked on 10/26/08, 10:17 pm

1 Answer from Attorneys
Charles Aspinwall Charles S. Aspinwall, J.D., LLC

Re: Trustee

Normally the Trustee has broad discretionary powers in distributing trust funds to the beneficiary. Those powers are often spelled-out in the Trust Agreement, and often provide that the funds shall be spent on necessary items such as education, health-care, etc. Hanging out with friends is not often one of the activities the Trust provides for. A job, including a part-time job, is usually the source of funds for non-essential expenditures. The idea is to conserve as much of the Trust as possible so there will be funds available when the beneficiary turns 21, 25 or whenever the Trust terminates. Many young people work part-time jobs and do well in school at the same time.

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Answered on 10/27/08, 10:34 am


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