dads irrevocable trust

by Guest » Fri Dec 24, 2010 07:28 pm
Guest

my father left me an irrevocable life ins. trust as partial benefificiary i am to recieve 3000 per year for 15 years than i get a lump sum of 125000 this was made in the state of n.y. this trust was made in 1980 when i was 22 years old i would like a lump sum now do i have any recourse thank you :(

Total Comments: 1

Posted: Sun Dec 26, 2010 07:33 am Post Subject:

i would like a lump sum now do i have any recourse



If the trust has a specified manner of making payments to you, then there is only that option available from the trust.

There are third-parties that will buy a "structured" settlement such as this, but you would obtain considerably less than the $170,000 coming to you over the next 15 years. You could figure on giving up as much as 55% of that $170,000 (or more).

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