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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Estate Law
Satisfied Customers: 19111
Experience:  B.A.; M.B.A.; J.D.
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My Company and Union have forced me into a RHA/Veba Trust that

Customer Question

My Company and Union have forced me into a RHA/Veba Trust that my estate cannot inherit as i have no spouse or eligible child. Upon my death Remaining monies go to the "TRUST".
Is this an IRS mandate?
Have I been disenfranchised?
Submitted: 1 year ago.
Category: Estate Law
Expert:  Phillips Esq. replied 1 year ago.
Yes, the RHA/VEBA trust is set up that way to comply with the Internal Revenue Code. No, you are not being disenfranchised because you will continue to get benefits from the Trust until your funds in the Trust have been exhausted. Kindly give a positive rating to my post so that I can receive credit for answering your question—so that part of the deposit that you already paid to the site can be transferred to me. You are not charged extra for doing this. Thank you for your cooperation.
Customer: replied 1 year ago.
My funds most likely will not be exhausted. I'm already in for $31,000 and most likely will retire with $150,000 +.
If I die today they take MY MONEY. So be it.
Expert:  Phillips Esq. replied 1 year ago.
By IRS regulation, that is the way the RHA/VEBA supposed to be set up. If you have no survivors, your remaining funds in the account would be forfeited, regrettably. You need to ask your Union Representative to direct you to the Union Counsel to ask why you were put in this type of trust and whether you can get out of it now. This is a long show, but worth pursuing considering the amount of money involved.