Q: My daughter was left something in her grandfather's will. The will specified that recipients must be 25 years of age.
If recipients are under age 25, their portion goes into a trust. In the state of Texas, is there a way she can receive her part earlier.
? She is 21 years old.
A: First, review the terms of the trust, and then talk to the Trustee. Often, the Trustee has discretionary authority over any distributions.
A: A will that creates a trust post death is said to create a testamentary trust. A testamentary trust is irrevocable and cannot be changed. The terms of that trust will dictate how distributions can be made. Often the trust will allow the trustee to make distributions based on an annual percentage, or annual net income of the trust, or for health, support, maintenance and education.
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