QUESTION
Is there a time limit that a trustee can postpone an appointed age distribution from a trust?
Asked on Aug 27th, 2014 on Estate Planning - Michigan
More details to this question:
In other words, if I have just reached age 30, how long can a trustee take till he/her is required to distribute the property?
2 ANSWERS
Donald G. Messinger
The trustee has a "reasonable time" to distribute once a beneficiary qualifies by attaining a certain age. Reasonable time may depend upon the nature of the assets held and whether or not the distribution is to be "in kind" or in cash. A beneficiary must be certain to make a written request for distribution if the trust document requires a formal request, although that is always good practice in any case.
Answered on Aug 27th, 2014 at 5:11 PM
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James T. Weiner, P.C.
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A reasonable time.. Ask the trustee for the distribution in writing.. If the trustee does NOT give it to you contact an attorney You might have to file an action against the trustee for a full accounting of the trust.
Answered on Aug 27th, 2014 at 1:55 PM