How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Thomas McJD Your Own Question
Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3170
Experience:  Wills, Trusts, Probate & other Estate Matters
19305272
Type Your Estate Law Question Here...
Thomas McJD is online now
A new question is answered every 9 seconds

Why should a trust beneficiary not make gifts to the trust

Customer Question

Why should a trust beneficiary not make gifts to the trust of which they are the beneficiary.
Submitted: 10 months ago.
Category: Estate Law
Expert:  Richard replied 10 months ago.
Hi Thomas. My name is ***** ***** I look forward to helping you. Can you be a little more specific as to what it is the beneficiary is trying to accomplish and why? Thanks.
Customer: replied 10 months ago.
Transfer of a life insurance policy from a company to a trust. The trust beneficiary had an interest in the company. I've heard that a beneficiary should never make gifts to a trust of which they are a beneficiary but never understood why.
Expert:  Richard replied 10 months ago.
Thanks for responding. I don't think I understand the entire situation well enough to be confident that I can provide a complete and accurate assessment. Therefore, I am going to opt out to open your question up to all experts so another expert can hopefully timely provide you the information you seek. Please do not respond to this post as it will only slow the process of such an expert picking up your question. Take care.
Expert:  Infolawyer replied 10 months ago.
different expert here and in NY. what do you need answered at this point?