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When Should Trust Distribute To Beneficiary

Build your estate plan online! MyAdvocate is the online solution for creating and maintaining your Will and all other legally-valid estate planning documents. Click the link below to get started! https://www.myadvocate.com/join/paul -- When you give or bequeath money to an heir, you can do it in one of two ways: either outright or in trust. If you leave an inheritance to an heir in trust, you have a decision to make regarding when the beneficiary receives distributions, and when the trust terminates - requiring the trustee to transfer trust assets to the principal beneficiary. There are an unlimited number of options when deciding on how distributions will be made to a trust beneficiary. You can provide for distributions or a trust termination based on a certain age, or a certain date, or in stages at different intervals. You can provide for distributions based on the occurrence of a certain event, or completely at the trustee's discretion. You can also provide that the trust shall last for the lifetime of the beneficiary, or you can have incentive based provisions that provide that distributions are based on the beneficiary achieving certain conditions. You could make distributions authorized for a specific purpose, such as buying a home or starting a business. Or you could also provide that the beneficiary would get a set monthly or annual amount until the trust runs out of resources. For prospective law firm clients who want to schedule a free 30 minute initial phone call with Paul Rabalais, go to: https://go.oncehub.com/Paul8 This post is for informational purposes only and does not provide legal advice. Please do not act or refrain from acting based on anything you read on this site. Using this site or communicating with Rabalais Estate Planning, LLC, through this site does not form an attorney/client relationship. Paul Rabalais Estate Planning Attorney