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Infolawyer
Infolawyer, Attorney
Category: Estate Law
Satisfied Customers: 53803
Experience:  Licensed attorney helping individuals and businesses.
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I am the successor trustee to my deceased uncle's trust. It

Customer Question

I am the successor trustee to my deceased uncle's trust. It specifies his wife is to receive $325/mo for mobile home rental space unless she moves back to the Philippines or passes. There was approximately $24500 starting and I chose to have my finance investor to handle the acct and invest that amount, as to not incur cap gains (minimal) or tax implications for her etc. She has spent the original $24500 now. Am I obligated to continue to pay her rent with the additional profits from investments I made with the account?
Submitted: 6 months ago.
Category: Estate Law
Expert:  Infolawyer replied 6 months ago.
You only need to make the specific payments called in the trust. Anything else is within trustee discretion and need not be paid under your best judgment decisions.
Expert:  Infolawyer replied 6 months ago.
Kindly rate me positively.
Customer: replied 6 months ago.
I am making the rental payments and she is still living in the US mobile home park. However, if I had not invested the original money set aside for her, she would have spent all of the money in the trust by Sept '16(appr). The only money after Sept in the trust available will be gains from investments I have made. She has brought over family from the Philippines to live with her in the mobile home and it is entirely possible she will not be returning to the Philippines as she originally planned. Am I obligated to continue payments past Sept?
Expert:  Infolawyer replied 6 months ago.
from the terms of the trust you mentioned you have the discretion to protect the trust and not pay the rest out.
Expert:  Infolawyer replied 6 months ago.
I tried to expedite your question. kindly click on a rating of OK or higher for the answer.
Expert:  Infolawyer replied 6 months ago.
Kindly rate me positively.

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