Can I get my inheritance early? 16 Answers as of July 10, 2013

I am set to receive an inheritance at the age of 25. I am only 23 as of right now, but myself and the legal holder of my inheritance want to turn it over to my control. How could we go about this legally?

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Law Office Of Victor Waid
Law Office Of Victor Waid | Victor Waid
Obtain the assistance of a probate lawyer who can file the appropriate petition to terminate the trust or court order you are referring, to accomplish your objective.
Answer Applies to: California
Replied: 7/10/2013
Irwin Law Offices | Michael Irwin
It depends upon whether a guardianship was set up through the County Probate Court. If so, you may petition the Court for early distribution if you have a good reason in support of your request. For instance, if you need to pay college tuition or medical expenses, the Court may honor your request. On the other hand, if the holder of the funds is an individual (as opposed to an insurance company or bank), an early distribution is possible by way of appropriate documents so long as the terms are consistent with the donor's original intent.
Answer Applies to: Ohio
Replied: 7/10/2013
James Oberholtzer, Attorney at Law
James Oberholtzer, Attorney at Law | James Oberholtzer
If it being held back from you, it is probably in a trust. You need to read the terms of the trust and see what it says about early distribution.
Answer Applies to: Oregon
Replied: 7/10/2013
Frederick & Frederick PLC | James P Frederick
It depends on how the inheritance is set up. Is this through a trust? If so, the trust may give the trustee the authority to simply hand you your share. There are many other possibilities, however, depending on how things are set up. You should discuss this in person with an attorney.
Answer Applies to: Michigan
Replied: 7/9/2013
Neal M. Rimer, Esquire
Neal M. Rimer, Esquire | Neal M. Rimer
You should retain an attorney to go over the situation and all documentation. Sometimes, if the property is held by a Trustee, there are provisions in the Trust that will allow for the early termination. If not, perhaps there is a way in which the Trustee can assist you for the next 2 years. If the property is in a custodial account, then again, there might be a means of assisting you.
Answer Applies to: California
Replied: 7/9/2013
    Law Office of Thomas C. Phipps | Thomas C Phipps
    You would have to get this approved by the probate court. I think any other beneficiaries would also have to be notified.
    Answer Applies to: Missouri
    Replied: 7/9/2013
    Sebby Law Office
    Sebby Law Office | Jayne Sebby
    Usually a delayed date of acquisition is created by the deceased because he or she doesn't believe the heir is ready to handle the inheritance at an earlier age. You can petition a court to allow you early access to the bequest. You will need to provide a legitimate reason for this, such as the need to pay for higher education or unexpected major medical bills.
    Answer Applies to: Nebraska
    Replied: 7/9/2013
    Irsfeld, Irsfeld & Younger LLP | Norman H. Green
    Depends on the nature of the arrangement: Is it a trust? Depends on terms of the document. She may be able to resign and designate you as successor trustee, or to petition the court. Is it a custodianship (under CTMA - Calif. Transfers to Minors Act)? Probably easier. Is it a guardianship - not without court permission Other?
    Answer Applies to: California
    Replied: 7/9/2013
    Gates' Law, PLLC | Thomas E. Gates
    The terms of the Trust determines if the can be early release. My guess is you will not be able to get the inheritance before 25, since a normal release would be 21. So, there was a reason why they picked 25.
    Answer Applies to: Washington
    Replied: 7/9/2013
    Kokish & Goldmanis, P.C.
    Kokish & Goldmanis, P.C. | Bernard H. Greenberg
    It depends on the nature of the account your inheritance is held in and if it subject to a trust. It is not possible to provide legal advice to you over the internet, so your best approach would be to visit with an attorney in your area who specializes in trust and estate administration.
    Answer Applies to: Colorado
    Replied: 7/9/2013
    Attorney At Law | James G. Maguire
    Look at the will (or whatever document was used to set the age at which you would receive the inheritance) and see if there is any provision for an early distribution. If there is no such provision, you should get court authority to do it.
    Answer Applies to: Louisiana
    Replied: 7/9/2013
    Law Office of Jessica R. Barsotti | Jessica R. Barsotti
    You need to refer to the trust document that controls your inheritance. Most trusts will allow early distribution under certain circumstances (such as when everyone agrees). You should consult an attorney in your area to make sure any early distribution is done properly.
    Answer Applies to: California
    Replied: 7/9/2013
    Danville Law Group | Scott Jordan
    The Trustee of the trust will have to file a petition with the probate court to amend the trust to allow the turnover of the money earlier than the Grantor wanted.
    Answer Applies to: California
    Replied: 7/9/2013
    Durham Jones & Pinegar | Erven Nelson
    It depends on the type of document in question. If it is a trust, we need to read the trust agreement. The trustee might have the discretion to give it to you early. If not, you could petition the probate court for an early distribution.
    Answer Applies to: Nevada
    Replied: 7/9/2013
    James Law Group
    James Law Group | Christine James
    You need to see an attorney to review the will/trust to see if it is even possible. If it is you will need to get a court order terminating the will/trust and transferring the account to you individually.
    Answer Applies to: California
    Replied: 7/9/2013
    Minor, Bandonis and Haggerty, P.C.
    Minor, Bandonis and Haggerty, P.C. | Brian Haggerty
    You could petition the Court to modify the trust, if you can meet certain requirements. Or, if the trustee has any discretion at all to make distributions, you could just work with the trustee to do whatever it is you want to do.
    Answer Applies to: Oregon
    Replied: 7/9/2013
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