Q: hello, i have a question about living trusts, am i reading the below right? that i can request money
Distribution of principal
Trustee shall distribute to or applied for NAME benefit as much of the principal of his Trust share as he may at any time request in writing.
No limitation shall be placed on NAME as to the amount or the reasons for such an invasion of principal.
NAME right to request the principal under this agreement is personal for him and may not be exercised by anyone other than NAME Income and
principal distributions in are trustees discretion
Our trustee may also distribute to or for NAME as much of the net income and principle of his Trust share as the trustee, and it's sole an absolute discretion, considered necessary or advisable for his health education and maintenance.
thank you for taking to time to respond to my question. i do look at the trust agreement again to make sure i transcribed it correctly. and i did lol
A:
What you have transcribed here would appear to say that, however, there are structural, grammar and 'word choice' mistakes here that make me think either you have mis-transcribed something or there is a serious defect in the document that may well cause issues. It is VERY unusual for a trust to include a provision that the beneficiary can ask for and be simply entitled to principal distributions in whatever amount and for whatever reason they want.
As an example of the structural issues, "Trustee shall distribute" is coupled with "Income and principal distributions in are trustees discretion". Which is it, mandatory or discretionary? That is not internally consistent. Further, if it is a MANDATORY right to withdraw, what is the purpose of a trust rather than an outright distribution? This makes little sense. What was the Trustor's intent here? It sure isn't clear from what you've included.
Bottom line: you need to take the ACTUAL document to a local probate attorney to have things reviewed. Something isn't right here but without a full review I can't say what.
--This answer is offered for informational purposes only and does not constitute legal advice or create an attorney/client relationship. I am licensed to practice in Michigan only. Please seek competent local legal help if you feel you need legal advice!
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