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My partner has a gun trust of which I am co trustee. under the trust I am allowed to all any and all of his collection. He had a stroke and is in the process of being transitioned to long term care and applying for title 19 with the State Of Connecticut. Am I allowed to use any of the proceeds for my expenses such rent and utilities? I am currently clearing out our shared rental home and having lost his income am not able to afford the rent by myself.
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If you are not a beneficiary of the trust, you are only entitled to payment for your work as a co-trustee. That is generally limited to 5% of the cash coming into the trust and 5% of the cash disbursed by it, absent court approval.
Answered on Jul 17th, 2019 at 5:23 AM
This is general information. It cannot substitute for a personal consultation with an attorney. It is not intended to be legal advice or imply an attorney-client relationship.