Legal Question in Wills and Trusts in New York

Trust Fund

I just turned 21 and I have a trust fund/joint account with my grand-parents, do I have full access to those funds now even thought I am a Trustee


Asked on 6/05/08, 8:17 pm

1 Answer from Attorneys

Walter LeVine Walter D. LeVine, Esq.

Re: Trust Fund

This is difficult to answer without seeing the actual document. General comments are that your access to the funds is controlled by the language creating the trust. This also covers the question of whether or not you are also a Trustee. Usually trusts created for the benefit of a minor only last until the minor becmes 21. However, many of the trusts I have created also provide for both the Grantor (maker of the trust) and/or the parents of the minor, so the child (you) may only have limited access if your grandparents and/or parents are still alive. The same may be true of trusteeship. If you could get me a copy of the document creating the trust, I could provide better information.

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Answered on 6/06/08, 12:11 pm


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