Re: Creating a New Trust
A Support Trust or Special Needs Trust? "Each beneficiary's seperate trust" -This sounds like several subtrusts of a Trust (called the administrative Trust). These Support Trusts are for the maintenance of the beneficiary BUT at some point in time, while the beneficiary is still living, the Trustee of the maintenance trust, can in his sole discretion determine that the beneficiary is 'good to go' for the rest of his Life? then can commence to distribute the principle to the beneficiary's Issue (decendents) BUT WAIT that's not right, but rather the Trustee can use the principle of this trust now for the support/maintenance of the beneficiaries decendents as well... interesting
These specifications should just be included in the terms of the Administrative Trust document.
what would occur in the beneficiary's Life that would cause him/her to no longer need the support of their Maintenance Trust?
Knowing the Law Not getting screwed