{"id":1874,"date":"2020-10-16T23:36:47","date_gmt":"2020-10-16T23:36:47","guid":{"rendered":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/?p=1874"},"modified":"2024-09-27T22:09:51","modified_gmt":"2024-09-27T22:09:51","slug":"can-trustee-withdraw-money-from-trust","status":"publish","type":"post","link":"https:\/\/www.jacksonwhitelaw.com\/arizona-estate-planning\/blog\/can-trustee-withdraw-money-from-trust\/","title":{"rendered":"Can a Trustee Withdraw Money From a Trust?"},"content":{"rendered":"

Introduction<\/h2>\n

Trusts aren\u2019t just employed by the wealthy. On the contrary, individuals from a wide range of backgrounds and income levels set up trusts as a way of passing property to loved ones. Not only does creating a trust<\/a> allow you to minimize fees associated with transferring assets, but it also makes settling an estate faster and more convenient for all involved.<\/p>\n

As a bonus, you can use a trust for a wide range of property types, including cash, real estate, stocks, bonds, and investments. This article explains more about how trusts work and whether your trustee can withdraw money with or without your permission.<\/p>\n

Understanding How Trusts Work<\/h2>\n

As legal vehicles, trusts offer a way for people to manage their assets both while they\u2019re alive and after they\u2019re gone. When you set up a trust, you empower an individual known as a trustee to hold and distribute assets to beneficiaries. Additionally, setting up a trust enables you to control how and when money is paid out to loved ones. For example, you can opt to disperse money to children or those deemed irresponsible a little at a time rather than giving it all at once.<\/p>\n

You can work with an estate planning attorney to set up a trust for your assets. Designed for use by those who are still alive, living trusts are the most common variety and offer an effective means of transferring houses and other assets. As a bonus, trusts don\u2019t go through probate, so beneficiaries can access money and property without having to wait weeks or even months.<\/p>\n

Benefits of a Trust<\/h2>\n

Trusts offer numerous advantages over other means of distributing assets after death. Here are some of the benefits that come with setting up a trust rather than just making a will:<\/p>\n