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Is there anyway that a trust account can be cashed out early?
I recently received a trust payout from My parents will.I have 2 more payments at 5 and 10 years from now?
8 Answers
- R TLv 75 years ago
There are companies that will buy the rights from you. Beware, they will not pay you the full amount you would get if you waited, but you can get the cash now. The difference between what they pay and the total payout is their fee for waiting it out.
- troLv 75 years ago
there are companies who offer to pay you now for the future payments you are due to receive
but in all fairness the trust was set up this way probably for the very reason those who did it knew you would blow the money as soon as you got it and under their terms a built in insurance was established to prevent this very foolish move by you
- shipwreckLv 75 years ago
No they did that so you couldn't. The trustees may have options to allow advances but this is for your future and your parents know you wanted it soon and knew you weren't ready.
- MorningfoxLv 75 years ago
That all depends on what the trust document says. Talk to the trustee, but I would guess probably not.
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- BillLv 75 years ago
If you are an adult you can go to a company that does Factoring and they will buy your trust for .50cents on the dollar.
- Anonymous5 years ago
It all depends on the terms of the specific trust. Ask the trustee.