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Is there any way to get my in inheritance early?

Toney, AL |
Filed under: Tax law

The problem is that I'm 16 and i have to wait until i am 19 to claim the inheritance , and mean while they are taking money out of it it is a small amount of money around 5k and there talking around 300 or more a year out of it. Plus i didn't even get to speak to anyone my parents went to the court house and cam home and told me the news.

I don't mean to sound greedy, its just i don't like someone i don't know, nor ever met to take the money i need for schooling.

thank you guys you have been very helpful, you guys are simply brilliant and fast. well i guess ill just have to wait.

Attorney Answers 2

Posted

I generally agree with Mr. Myers, but I anticipate the $300+ per year coming out of the account probably relates to tax and fiduciary filings since this is likely a trust under will - though it never hurts to ask. If AL follows the Uniform Trust Code it might be possible to terminate the trust (with the consent of the trustee) via the "Modification or Termination of Uneconomic Trust" provisions (see VA Code Sec. 55-544.14), but at your current age I doubt either the trustee or court would be willing to terminate the trust. As Mr. Myers noted, the trust was put in place for a reason, and in the long run it may be in your best interest to leave the funds where they are.

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DISCLAIMER: THE INFORMATION PRESENTED HERE IS GENERAL IN NATURE AND IS NOT INTENDED, NOR SHOULD IT BE CONSTRUED, AS LEGAL ADVICE. THIS POSTING DOES NOT CREATE ANY ATTORNEY-CLIENT RELATIONSHIP BETWEEN US. FOR SPECIFIC ADVICE ABOUT YOUR PARTICULAR SITUATION, CONSULT A QUALIFIED ATTORNEY.

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Posted

No. If the will or trust or other document provided for you to wait until you are 19, you need to wait until you are 19. I know that you do not want to hear this, but there are reasons that people implement such provisions.

You might have an attorney or guardian enter the matter to question the necessity and reason behind depletion of the account.

This answer is provided for informational purposes only. Actual legal advice can only be provided in an office consultation by an attorney licensed in your jurisdiction, with experience in the area of law in which your concern lies.

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