• The devil is always in the trust provision details
  • August 31, 2010
  • Law Firm: Zell Law - Reston Office
  • I recently reviewed a trust that instructed the trustee to distribute assets to buy a new home, without restriction, at the request of the trust's beneficiary. This fairly broad direction allowed the beneficiary to completely deplete the trust assets and purchase a swanky bachelorette pad without regard to her later needs. Because of the way the trust was written, the trustee had to obey the beneficiary's demand. Had the trust instrument given the trustee discretion over the decision or limited the distribution to a down payment or loan for the purchase of a first home, the trust assets might still be intact.