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Trust account set up by someone else?
My niece is sick, and I want to open an In-Trust account for her with me as the trustee.. so that when her parents are out of money, there is money for her care. They might not be happy that I'm not giving it directly to them, so I'm wondering if there's any way that they can take it out since it's going to be in trust to their daughter?
1 Answer
- ?Lv 71 decade agoFavorite Answer
No. I also am Trustee for a child. No one but I may authorize withdrawals and payments.
Have a lawyer set up the trust. You can specify that it not be used for Hospitalization. This Allows the child to receive Medicaid since the Assets of the trust are limited.
