Can Trust Make Monthly Distributions to Beneficiary?
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Question:
I just finished reading your book “The Baby Boomers Guide to Trusts,” and the information is very good. I am the trustee of a revocable living trust and would like to set up a monthly cash distribution to a beneficiary. Could you point me in the proper direction?
Response:
I’m glad you liked the book. I don’t see any problem with setting up a monthly distribution to the beneficiary assuming this is permitted under the terms of the trust, which it probably is. Most trusts describe the purposes for which distributions may be made, for instance for the health, education, and support of the beneficiaries, but not how they are to be made. That level of detail is up to you as trustee. I would think that you could simply arrange for the monthly distributions through the bank or financial institution where the trust funds are kept, perhaps even on-line.
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