Access to Trust Fund

My name is Courtney,and I live in Texas. My birthday is approaching before the year's end, and I will be 21. I wish to have access to my trust fund, and wonder how to go about it. My grandmother in Colorado is the trustee,and neither her nor my legal conservator will give me information on my trust fund. (My mother died at 3, father at 7) All I know is that there is enough to get me through college, and the intention was to use the remainder of the money in the trust fund for such. Note, my trust fund also paid for my schooling from 2nd- 12th grade at a private school and paid for my first car. This is all I have learned, considering my legal conservator (who is also my aunt) and my grandmother and I are not in contact at the moment. All I desire is to have access to my money so I can pay back a loan from a friend, have money to live on so I'm not homeless this coming December, and go to college. Thank you for taking the time to read this.

You're going to have to get a copy of the trust, to understand what (if any) of the assets you could get access to, and under what circumstances. Just because you're 21, doesn't necessarily mean you have access. For instance, it could be written in the trust that you may have some of the money at let's say 25 years old, some more at 35 years old, and the rest at 45 years old. Or on the other hand, it could be written that you can have it all immediately at 21.

age

I'm aware that a specific age may be set for the trust fund. But my question is how do I even know? i have no idea where to begin in even finding out any information. I would not have a clue how to get a copy of the trust, what questions to ask, etc. And I don't have money just to fly back to my parents' place of death or wherever just to attain papers. I need to know what steps to take to find out information and hopefully gain access to my trust fund.

Sounds to me like it may be time to get back in contact with some relatives. Might involve a bit of "sucking up"...but as a mature 21 year old, you understand that that is not the worst thing in the world, right?

i have contacted the trustee and conservator on numerous occasions throughout the past 2 years. Neither are willing to release any information. Thanks anyway.

Courtney1989 said:

i have contacted the trustee and conservator on numerous occasions throughout the past 2 years. Neither are willing to release any information. Thanks anyway.

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They likely do not have to. You are not necessarily entitled to know the details of the trust. The trust is a private document. The down-side is that you have no way of confirming that it's being administered properly.

You would need the assistance of an attorney...but it sounds like you can't afford that.

Since you know the trustee, that is where you need to start.

Rather than coming across with an intent to get money, let me suggest starting with an intent to understand the trust.

Now that I'm 21 and a beneficiary of the trust, is it possible that you can share with me the trust document itself so that I can understand what my parents had intended to achieve with the creation of the trust. Once you get that knowledge, ask questions as to how taxes are paid each year, who pays them, who is in charge of filling out the tax forms, etc. Once you understand that, inquire about what are the types of assets that are in the trust (stocks, bonds, cash, real estate, etc, etc). Once you understand that, ask to see if you can get ongoing copies of documents to track how well everything is performing as an investment, etc.

All of this so far, and not once did you ask about how to get money out.

One of the fears of the trustee, is probably will you want withdrawals and then blow the money.

i have contacted the trustee and conservator on numerous occasions throughout the past 2 years. Neither are willing to release any information

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And the reason that they state they won't release information is because ...... ???

Since you guys aren't even on talking terms at the current time, it's probably impossible for the trustee to know how responsible you are with your handling of money matters.

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the trustee, and the rest of my family, will not speak to me. I have tried to just reconnect several times, but am met with silence or verbal abuse. I have expressed a genuine interest in just knowing how the trust fund works, not even asking about any amount in it. But just as all the times before and since, I am given no real answer.
One piece of advice I was given was to find an attourney who only charges if a case is won, and go to court over it.

Courtney1989 said:

One piece of advice I was given was to find an attourney who only charges if a case is won, and go to court over it.

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Treat whoever you received that advice from skeptically in the future. You won't find one.

Hi courtney, i was wondering if you had any luck with your trust fund? i turned 21 today and have been receiving calls from my grandmother telling me my "parents" have money for me. I saw some documents years ago that i think were a trust fund. I havent spoken to my "parents" in two years because my father was physically abusive (i moved from california to new york) towards me and continues to abuse my sister. They didn't bother to contact me on my last birthday, so i'm assuming it is because i turned 21 and that is when i receive it.

i do not wish to speak to these people ever again they made my life a living hell, but the money could really make life a lot easier for me right now.