Im 40 years old and my parents still have yet to discuss in detail my trust fund.

[Anonymous]

You people need to know the difference between an inheritance and money that is "in trust" aka trust fund.

[Anonymous]

Anonymous wrote:You don't have your facts right. Or you don't have one. And they are avoiding telling you.


Who are the trustees? You would know this.
You do know they can revoke it at any time?

+1 op, are you getting distributions? Who are the trustees? If it's your parents, then really it's still their money, not yours.

[Anonymous]

If you were "entitled" to it, you would have the right to demand info. But you don't, so you aren't entitled.

You sound like a right bitch.

[Anonymous]

It must be a revocable trust which functions more like an inheritance in that your parents can be the trustees and still control everything.

Not an irrevocable trust where they give up ownership and typically a 3rd party can control the provisions.

Do you know which one?
I'm guessing the first in which case it is meaningless if they won't discuss it and "your name" is not on it except in theory.
It's theirs.

[Anonymous]

Anonymous wrote:I sound entitled because I am entitled. They have told me about this trust fund for years just no details.

There are different kinds of trusts. If it is a revocable trust that you have not yet received, you are not entitled to the money and it can be redistributed to other purposes and investments at any time. If it was an irrevocable trust, you would already know because there would be tax consequences to you.

Very likely it is a trust that vests on the death of the second parent, making it a trust for their tax purposes but not much different from other inheritance from your perspective.

[Anonymous]

Well, at least this is a problem I don't have. Thanks for cheering me up, OP.

[Anonymous]

from reading these boards for some time I think many people don't understand the complexities.
They hear the word "trust" and assume it's a trust fund which is traditionally known to be a rich kid who is getting money during his lifetime from his parents/grandparents.
Aka irrevocable trust.
Unfortunately for OP and many others, a revocable trust, or even generation skipping or charitable trust are completely different.
Fidelity bank has a good brief description of the nuances on their web page for those interested

[Anonymous]

Anonymous wrote:

Anonymous wrote:I sound entitled because I am entitled. They have told me about this trust fund for years just no details.

There are different kinds of trusts. If it is a revocable trust that you have not yet received, you are not entitled to the money and it can be redistributed to other purposes and investments at any time. If it was an irrevocable trust, you would already know because there would be tax consequences to you.

Very likely it is a trust that vests on the death of the second parent, making it a trust for their tax purposes but not much different from other inheritance from your perspective.

this. there is a trust in your name, but there are probably no assets in it. when the second-to-die parent dies, your trust will vest with whatever assets your parents designate in the trust instrument that still remain at the time of that parent's death. so, it's possible that they have actually told you everything about the trust that there is to know - there is a trust. what you get depends on what assets remain at the time of your parents' deaths.

[Anonymous]

My husband told me his mom has a trust and he and his sister'S names are on it. His sister is listed as the executor. What does this mean ? Isn't it weird my husband doesn't know anything else about the trust? He may be making it up.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I sound entitled because I am entitled. They have told me about this trust fund for years just no details.

There are different kinds of trusts. If it is a revocable trust that you have not yet received, you are not entitled to the money and it can be redistributed to other purposes and investments at any time. If it was an irrevocable trust, you would already know because there would be tax consequences to you.

Very likely it is a trust that vests on the death of the second parent, making it a trust for their tax purposes but not much different from other inheritance from your perspective.

this. there is a trust in your name, but there are probably no assets in it. when the second-to-die parent dies, your trust will vest with whatever assets your parents designate in the trust instrument that still remain at the time of that parent's death. so, it's possible that they have actually told you everything about the trust that there is to know - there is a trust. what you get depends on what assets remain at the time of your parents' deaths.

If it were an irrevocable trust, you would know. I have one, and I gained control on my 18th birthday. I have to pay taxes on it. unless your parents fill out your taxes and you sign them blindfolded, it's not your trust fund.

[Anonymous]

We spent it.

[Anonymous]

Few people know re: their inheritance ahead of time. A trust fund is just the financial vehicle they have chosen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I sound entitled because I am entitled. They have told me about this trust fund for years just no details.

There are different kinds of trusts. If it is a revocable trust that you have not yet received, you are not entitled to the money and it can be redistributed to other purposes and investments at any time. If it was an irrevocable trust, you would already know because there would be tax consequences to you.

Very likely it is a trust that vests on the death of the second parent, making it a trust for their tax purposes but not much different from other inheritance from your perspective.

this. there is a trust in your name, but there are probably no assets in it. when the second-to-die parent dies, your trust will vest with whatever assets your parents designate in the trust instrument that still remain at the time of that parent's death. so, it's possible that they have actually told you everything about the trust that there is to know - there is a trust. what you get depends on what assets remain at the time of your parents' deaths.

If it were an irrevocable trust, you would know. I have one, and I gained control on my 18th birthday. I have to pay taxes on it. unless your parents fill out your taxes and you sign them blindfolded, it's not your trust fund.

It's also possible to gain control of a trust at any age and under various circumstances. They can skip generations, begin when other families members are deceased. It all depends on what's specified.

[Anonymous]

Anonymous wrote:I'm 38 and I don't know the details of my inheritance. Why should I? My husband, kids, and I stand on our own feet. It's happy bonus money - whatever amount it is.

I do know about college fund accounts for the kids though.

I wouldn't necessarily say "happy".....

[Anonymous]

Soooo much misinformation on this board.

Op, assume you have nothing until you have it.

It may be the kind of trust that only kicks in when your parents die. You may be a reminderman beneficiary. Your parents might exhaust the trust and leave you nothing.