Trust Moneys To A Beneficiary Under HEMS Standard скачать в хорошем качестве

Trust Moneys To A Beneficiary Under HEMS Standard

To request a free zoom video meeting to design your estate plan, click the following link and complete the short questionnaire: https://aeplaw.cliogrow.com/intake/71... America's Estate Planning Lawyers website: https://aeplawyers.com/ Let’s say you are a parent or a grandparent and you want to leave a significant (or maybe not so significant) inheritance to your child or grandchild (or maybe even your great grandchild). Let’s say a beneficiary is only five years old so common sense says leave that inheritance in a trust for them and let them get it: when they are 25; or let them get it in thirds when they are 25/30/35. But then you think, “I don’t want those funds locked up in a trust until age 25 or later, because what if the beneficiary needs to use the funds to go to college. It would be a disaster if the beneficiary wanted to go to college, but was not able to because the inheritance was locked up in a trust until they were older.” Hence, the HEMS standard or HEMS provisions in trusts. HEMS, an acronym (H-E-M-S) stands for health, education, maintenance, and support. HEMS provisions are often put into trust instruments as a way to provide for the kinds of distributions that a trustee of a trust can make to a beneficiary. Now, with HEMS provisions in that trust for that beneficiary, once that trust is in place for the child, grandchild, or great grandchild, even if the beneficiary is 10 years old, 16 years old, or 22 years old, the trustee will have the ability to pay for the health care needs, tuition for schooling, or even living expenses of the beneficiary prior to the date that the trust terminates and the rest of the trust assets are turned over to the beneficiary. 0:00 The HEMS Standard 0:18 Trust Funds Could Be Locked Up 1:04 HEMS Trust Provisions 2:01 HEMS Defined 3:13 HEMS Provisions For Your Surviving Spouse 4:05 Over-Particular Trust Restrictions 5:52 Use HEMS and Communicate