If my Trustee on my trust fund account buys me a car with my trust fund money, does he have any right to take it back?
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If my Trustee on my trust fund account buys me a car with my trust fund money, does he have any right to take it back?
The car is in his name, but it was my money that payed for the car, insurance, plates etc. Does he have to pay the money back into my account or did he have every right to take it?
Asked on April 24, 2012 under Estate Planning, Michigan
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
The best way to answer your question is to carefully look at the trust agreement to see what it says on the subject. Assuming the trust is silent about items given to you out of the trust as to their return, once given to you from the trust the item or items are yours to do as what you wish to do with them assuming you are an adult.
Meaning, if you are an adult and were provided a car from the trust that you are a beneficiary under, that car is yours and cannot be taken back unless the trust states so.
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