QUESTION
My trust is running out of money. Do I need to do anything or file papers?
Asked on Dec 16th, 2020 on Trusts and Estates - California
More details to this question:
The trust my father made that went into effect after his death is running out of money. My brother is the trustee and he wants to end that relationship. What does he or I have to do after all the money is gone? The last payment he will make is for my rent in February.
1 ANSWER
3 Awards
If you are on any form of public benefits (Medi-Cal or SSI, for example), you had to inform them when the trust was funded. You should get a letter from your brother stating that the trust has run out of money. You would give a copy of that to your social worker at your next re-determination.
If you're not on public benefits, then there's no one who needs to do anything when the trust runs out of money.
Answered on Dec 21st, 2020 at 9:07 AM