Estate Law Questions? Ask an Estate Lawyer.
Good morning, and thanks for using JUST ANSWER. You said:
I am below the threshold I set. is there any way I can get capital from the trust? Can it be used as collaterall for a line of credit or loan?
I don't know what exactly you mean by being "below the threshold I set". Whether the trust can be used as collateral for a loan is up to the lending institution. Most well drafted trusts contain clauses that will prevent a beneficiary from borrowing against or assigning their interest in the trust. That is what a bank loan officer will look for in the trust agreement. I'm sure the trustee can provide you with that information very quickly. I wish you the best of luck in your new business venture.
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