Q: What are the steps I need to take to obtain funds from my daughters trust account as the trustee.
My daughter received a settlement last year in the amount of 6500
The court had these funds placed into a trust account
They had me set up the trust account at union bank with me as the trustee and her as the beneficiary
With the document stating the funds cannot be accessed until the minor is 18
Or a court order to accesses funds is obtained.
I need access to these funds to pay medical bills for her, Buy new clothing for her, and daycare services.
I’m trying to find out how I would go about starting this process?
Also the bank is charging interest and takes outs money every month causing the amount to decrease.
A: A lawyer would need to read the terms of your particular trust. Also, the funds may belong to your daughter, not you. So you may not be able to spend the money the way you want. Depending on the terms in the trust, it's possible only your daughter can spend the money. Take the trust document to a lawyer to get legal advice tailored to your individual situation. Best wishes!
Rebecca Sommer agrees with this answer
A: You will need to look at the court and trust documents to see what is permitted and follow those documents. They may also dictate whether you can change the custodian of the money or not. If you are having difficulty interpreting the court's order and/or trust documents, you may need to consult a lawyer who can review the documents and provide you with advice.
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