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Infolawyer
Infolawyer, Attorney
Category: Estate Law
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Experience:  Licensed attorney helping individuals and businesses.
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TRUST CREATED BY FATHER FOR KIDS MEDICAL EXPENSES. TRUST

Customer Question

TRUST CREATED BY FATHER FOR KIDS MEDICAL EXPENSES. TRUST PAYS MEDICAL EXPENSES SOME OUT OF DISTRIBUTED INCOME AND SOME OUT OF CORPUS. cAN KIDS TAKE THE MEDICAL EXPENSES ON THEIR PERSONAL RETURN (MEDICAL ARE DEEMED A DISTRIBUTION BY TRUST?
Submitted: 9 months ago.
Category: Estate Law
Expert:  Infolawyer replied 9 months ago.

Hello and welcome. I am working on your answer and will be right back!

Expert:  Infolawyer replied 9 months ago.

If the trust is paying it, it would show up on trust return. The kids can take expense on their returns to the extent they pay for it themselves out of pocket but not out of the trust. So if a procedure costs $1000, and trust cover $750, and kid pays $250, the trust can claim the $750 and kid claims $250.

Expert:  Infolawyer replied 9 months ago.

I hope that is clear. Kindly rate me 5 stars.

if I can clarify anything, ask me.

Expert:  Infolawyer replied 9 months ago.

thanks in advance.

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