Legal Question in Wills and Trusts in New York
My daughter received a large medical practice settlement which is in trust for her. The bank is the trustee and I am the beneficiary. My daughter is trying to purchase a $353,000 house of which she cannot maintain. I have been asked to sign a form agreeing to this purchase. Can I refuse to sign and stop the purchase of this house? Or will the sale go through without my approval.
2 Answers from Attorneys
Your consent is not required, but you should speak with the trustee if you do not approve.
I do not understand why you are the beneficiary of a trust for your daughter, if she was the recipient of the award. Please explain. Presuming you might be confused as to your position in the trust (I aqm presuming you are a beneficiary only if your daughter were to predecease you). If I am correct, that the trust is for her primary benefit, your approval might not be needed. More information is needed for a complete response to your question.
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