Legal Question in Wills and Trusts in Texas
i have trust that pays me in october from my grandmother out of hemet ca there is a restriction keeping me from applying for a loan against that trust is there any way around it i need a small loan bad please help me
sincerely
william whitman
1 Answer from Attorneys
Mr. Whitman:
Unfortunately for your situation, many trusts are written with specific provisions and restrictions like yours. These provisions exist to maximize the life of the trust and to protect its ability to provide for you (and potentially other beneficiaries.) Modifying a trust is not impossible, but it takes an experienced probate and trust attorney to guide you through. Even then, there are some situations that simply do not warrant modification, and you should prepare yourself for not getting what you ask for even if you retain an attorney to present your case.
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