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Can cash in trust account be used for expenses on a home in…

Can cash in trust...

Can cash in trust account be used for expenses on a home in the trust. The beneficiary does not reside in the house the settlor /grantor of the trust does?

Lawyer's Assistant: Since estate law varies from place to place, can you tell me what state this is in?

Massachusetts

Lawyer's Assistant: Has anything been filed or reported?

Trust has been set up 10 years ago and the settlor has applied for ma health.

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

No, thank you..

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Answered in 9 minutes by:
1/19/2018
Jessica B
Category: Estate Law
Satisfied Customers: 1,849
Experience: Attorney at Donald B. Linsky & Associates, PA
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Hello. My name is ***** ***** I am a licensed attorney. I hope I may be of assistance with your question. Please remember to rate my service at the end of this session. Thank you!

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Yes cash assets held in trust may be used to pay expenses for real estate held in the trust. These expenses may include property taxes, homeowners insurance, homeowners association dues, utility bills, and repairs to the property.

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What are the expenses that need to be paid?

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Customer reply replied 7 months ago
What you described above..my wifes mother set up the trust with daughter as beneficiary.. The mother lived in the house, for purposes of getting medicaid will that nullify the trust/

No. The trust will remain in full force and effect.

Jessica B
Category: Estate Law
Satisfied Customers: 1,849
Experience: Attorney at Donald B. Linsky & Associates, PA
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