Find all needed information about Parent Trustee Legal Obligation Support. Below you can see links where you can find everything you want to know about Parent Trustee Legal Obligation Support.
http://d37msyy8lsqwlx.cloudfront.net/macroclaw/resources/LegalObligationofSupport.pdf
trustee g ener ally should not use the trust pr operty to provide for the basic suppor t needs of the child. After all, the parent has a legal obligation to provide for basic support needs and the trustee should not “discharge” that obligation by using the child’s trust funds.
https://mcandrewslaw.com/should-the-parentdonor-serve-as-sole-trustee-of-a-third-party-funded-special-needs-trust/
If the grantor/parent is the natural guardian of the trust beneficiary (i.e. because the beneficiary is a minor) or Court appointed guardian (i.e. because the beneficiary is an intellectually disabled adult), he has a legal obligation to support the beneficiary, and would fall under the purview of the statute.
http://estateplanninglawdallas.com/2018/03/upjohn-clause/
In either case, the trustee is the parent of the beneficiary and owes the beneficiary a legal duty of support because the beneficiary is a minor. Although there are other circumstances where an Upjohn clause might apply (for example in the context of a marriage or guardianship),...
http://digitalcommons.law.lsu.edu/cgi/viewcontent.cgi?article=3549&context=lalrev
Federal Tax Effects of the Parental Obligation of Support in Louisiana Leon J. Reymond Jr. This Comment is brought to you for free and open access by the Law Reviews and Journals at LSU Law Digital Commons. It has been accepted for inclusion in Louisiana Law Review by an authorized editor of LSU Law Digital Commons.
https://www.swlaw.com/assets/pdf/publications/2004/09/15/GiftstoMinors.pdf
B. Requirements for Section 2503(c) trusts. 1. Trustee must have discretion to distribute income and principal to the minor before he or she reaches the age of 21. a. If only income can be so expended, income interest alone qualifies for the annual exclusion.
http://www.spoffordlaw.com/wp-content/uploads/2012/08/Fiduciary-Litigation-Parent-Child-3rd-Party.pdf
Fiduciary Litigation: Duties and Obligations between Parent, Child, and Third Parties Chapter 4 1 FIDUCIARY LITIGATION: DUTIES AND OBLIGATIONS BETWEEN PARENT, CHILD, AND THIRD PARTIES I. INTRODUCTION The legal authority creating or recognizing a fiduciary relationship is derived from statutory or common law.
https://www.specialneedsalliance.org/the-voice/child-support-for-an-adult-child-with-disabilities/
However, if the trust is not a special needs trust, but instead is one that requires the trustee to use trust assets to support the child or pay for the child’s health care, it is possible that the assets in a trust or the distributions from a trust will be taken into account when determining the amount of a parent’s child support obligation.
https://www.handlerlevine.com/faq/estate-planning-documents-process/substantive-legal-questions-estate-planning-documents/
A trustee who is also a beneficiary may not make distributions that exceed the HEMS amount or which satisfy their own support obligation for someone else. The "maintenance" and "support" portion of the HEMS standard is generally interpreted to mean the beneficiary's accustomed standard of living.
http://www.naepc.org/events/newsletter/4/2010
The term legal obligation includes a support obligation, and under state law, a person almost always has a support obligation in at least two situations: (1) A parent has an obligation to support a child until age of. majority (i.e. emancipation); and (2) A husband has an obligation to support …
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