Legal Question in Wills and Trusts in Virginia
Hello I have a question regarding a trust I am the beneficiary of. Can someone please tell me in layman's terms what the following means? "Notwithstanding the foregoing provisions, whenever any interest in a trust vests absolutely in a beneficiary under age twenty-one years, my trustee may retain the interest upon a separate trust and pay to the beneficiary as much of the net income or principal as my trustee may deem appropriate to provide for the beneficiary's support, or educations untie beneficiary reaches the age twenty-one years when the interest shall go outright to the beneficiary. "
1 Answer from Attorneys
That means if you are under 21 you will only get the funds from the trust which the trustee deems you need to provide for your support or education. When you become 21 you get all that's in the trust.
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