Q: What does the statement below mean in New York State for a personal trust?
"in determining the amounts of principal to be so distributed, the trustee shall not take into consideration any capital resources which my wife may have"
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A: This statement suggests that when the trustee is deciding how much principal from the trust to distribute, they should not consider any other assets or financial resources that your wife possesses. Essentially, the trust distributions to your wife should be based on the terms of the trust itself, and her own wealth or assets should not influence this decision. This provision is likely included to ensure that the trust fulfills its purpose regardless of the beneficiary's financial situation outside of the trust.
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