QueBarbara <que.barbara.lanc@[EMAIL PROTECTED]
> wrote in
news:cm7d045bn8aroq4rhs06idhpllmvq7fdfb@[EMAIL PROTECTED]
> On 17 Apr 2008 00:36:07 GMT, Dover Beach <moon.blanched@[EMAIL PROTECTED]
>
> wrote:
>
>>
>>In our case, my husband and I have a trust because he has a child from
>>his previous marriage. If he dies first, then I can use his money for
>>my maintenance and sup****t, and can drain the funds dry if necessary.
>
> It's my understanding, and this sentence appears to sup****t it, that
> trusts are set up to dispense money only 1) by a set amount on a
> regular basis, or 2) if there are extenuating cir***stances (medical
> needs, frex.). Is this correct, and if so, who decides what amount is
> dispensed on a regular basis? Apologies if I've asked too personal of
> a question.
No, it's much looser than that. The money in the trust can be used for
my (or his, if I kick off first) "health, education, maintenance, and
sup****t", or HEMS in legalese. In practice, HEMS covers most
everything. I'm the trustee for my mom, and I'm supposed to use the
money in her trust for her HEMS, and as far as I can tell that covers
pretty much anything she wants. If she wants to start giving it away to
con artists, obviously I can stomp on that. But it certainly covers her
assisted living expenses, and new clothes when she wants them, and her
medical care, and so on.
--
Dover
|
