Trust Fund/Marriage

[OneFriend78]

What is the name of your state (only U.S. law)? Washington. Hello, I won a trust fund in court. A letter of contractual capacity (a letter stating that I am capable of handling my own finances), was recommended by my parents' lawyer, but not required; however, the clinic's policy prevented my psychiatrist from writing such a letter, and the attorney and my primary care doctor had trouble getting ahold of each other, and I did not get one in time for our court date. But the judge liked the arrangement, anyway, especially with a trustee and a limited power of attorney. I receive Social Security for Disabled Adult Children right now, because I was disabled under the age of 22, and both my parents are now fully retired. So, I get a larger check amount than SSI, and I have a trust fund coming to me, but only once I inherit it after my parents' passing. This sounds really nice, but I was hoping to recover from my psychiatric disability, so I paid an attorney to tell me to add an extra clause saying that the limited power of attorney could be lifted in case I should become financially independent. At which point, whether I am able to get a job with security and be able to support myself, or if I get married, I would no longer be receiving benefits, but I would have access to the trust fund. My question to you is that when it comes time to go to court to lift the power of attorney, and subsequently the trustee, too, to have access to my entire inheritance all at one time, do I set up a court date after I get a good job, or do I go before or after I get married? You would think that no third party should have any rights to me if I get married, that sole rights and money should go to my spouse. How does the court know some job will not backfire or some potential husband will not betray our wedding engagement? I really do want to get married before I even think about working, at which point I would discuss it with him and come to an agreement. If some guy likes me even though I have been disabled, no third party, even though my limited power of attorney and trustee are two of my aunts, should have any legal say in our marriage, unless it is to give it their blessings and hand all the responsibility over to the potential spouse.

 

[justalayman]

Your post is confusing but one thing it appears you don’t understand:

There is no inheritance until the person you are inheriting from dies. If you are talking about inheriting from your parents, you don’t get that after they die.

I have no idea what “I won a trust fund” in court.


If this is a special needs trust, if you no longer qualify for a special needs trust the trust would be dissolved. There could be liens that must be paid before you recieve the remainder. After that the balance would become yours. What you do with it would be up to you.


Much of the rest is beyond confusing to me. Given the answers are likely to be specific to your situation I suggest you have an attorney that deals with special needs trust help you do what is possible to protect the trust from whomever you believe jeopardizes it.

 

[OneFriend78]

I do realize that I would not be receiving the inheritance until after their passing, but my specific question was whether to go to court before or after my marriage, and I gave you many specific details which were all correct. I think I have answered my own question, which was to go to court beforehand and lift the limited power of attorney and trustee, despite the fact that I am not my own reprentative payee. I will go back to my parents' attorney when the time comes, and she will handle it. Thank you.

 

[LdiJ]

I do realize that I would not be receiving the inheritance until after their passing, but my specific question was whether to go to court before or after my marriage, and I gave you many specific details which were all correct. I think I have answered my own question, which was to go to court beforehand and lift the limited power of attorney and trustee, despite the fact that I am not my own reprentative payee. I will go back to my parents' attorney when the time comes, and she will handle it. Thank you.

I am sorry to tell you that your "details" do not convey the necessary picture in order to give you valid advice.

It is not necessarily in your best interest to lift the limited power of attorney and trustee, based on your marriage.

 

[HRZ]

Absent clear approval from parents to attorney, their attorney would be unwise to represent you on any matter which might be adverse to their intentions .

Many marriages do not stay made in heaven .....if you have a workable special needs trust and a sensible trustee ..it might be smart NOT to change that protection layer .

 

[Dandy Don]

Who has the limited power of attorney (is it the trustee or someone else) and why would that need to be changed? Because you want the limited power of attorney to expire so that no one else has access to your money?

Are you concerned about how your money will be handled AFTER you are married and whether your husband would have access to this money?