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 Wallstreet Esq. Your Own Question
Wallstreet Esq.
Wallstreet Esq., Tax Attorney
Category: Tax
Satisfied Customers: 585
Experience:  10 years experience
16356563
Type Your Tax Question Here...
Wallstreet Esq. is online now
A new question is answered every 9 seconds

I am trustee of an irrevocable trust for my father. He needs

Customer Question

I am trustee of an irrevocable trust for my father. He needs money and I am inclined to give him money from the trust. The other beneficiaries will agree if I ask them. Can I pay my father from the trust? If so, are there tax implications?
JA: Since estate law varies from place to place, can you tell me what state this is in?
Customer: calif
JA: Has anything been filed or reported?
Customer: I have tax id number. Tax returns have not been filed since earnings haven't been high enough yet
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 9 days ago.
Category: Tax
Expert:  Matthew Breecher replied 9 days ago.
It depends on the trust; but you could take a distribution if you are the beneficiary as gift the amount to your father.