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Can i get my trustee to pay my bills i have no money to pay…

Customer Question
Can i get my...

Can i get my trustee to pay my bills i have no money to pay as my taxes ins teeth glasses

Accountant's Assistant: What state are you in? It matters because laws vary by location.

Tx

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

Just normal will stuff

Submitted: 8 months ago.Category: Tax
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Answered in 59 minutes by:
9/11/2017
Tax Professional: Lane, JD, CFP, MBA, CRPS replied 8 months ago
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,227
Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
Verified

Hi My name’s Lane - I hold a law degree (J.D.), with concentration in Tax Law, Estate law & Corporate law, an MBA in finance, a BBA, and CFP & CRPS (Chartered Retirement Plans Specialist) designations, as well - I’ve been providing financial, Social Security/Medicare, estate, corporate, non-profit, and tax advice 1986.

...

I'm sorry, but you'll need to provide more information. The bot***** *****ne is that this depends on the terms of the trust (the language in the trust document) - said a little differently, the TYPE of trust.

...

If this is a credit shelter trust, then you should be able to, becasue typical credit shelter trusts aer set up too allow the surviving spouse to get what's needed for Health, Education, Maintenance & support (HEMS is the acronym).

...

But if this is a special needs trust (also called a supplemental needs trust) certain types of disbursements – most notably payments for food and shelter-- may reduce the amount of SSI and other government benefits.

...

Can you give me more detail about the trust AND what you know about the discretion the trustee has to distribute assets?

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Lane
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 14,227
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Experience: Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986

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