Legal Question in Wills and Trusts in New York
trust fund
what does the following mean: ''I acknowledge that this payment represents a portion of my share in the Trust Estate of ........ and I accept the partial distribution under the terms of the above referenced Trust and Last will and Testament of......''
Does this mean there is more of the estate, or the trust, to be distributed out to the family?
1 Answer from Attorneys
Re: trust fund
This is typical language for a partial, preliminary distribution of an estate, where there may be some additional time involved in completing the legalistics of the estate, and the amount of the final distrbutable estate cannot be determined at this time. There may or may not be a further distribution, depending upon what is involved and what was reserved for a possible future claims, taxes and final istribution.
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