Yes, a trust can absolutely purchase software for communication assistance, provided the terms of the trust document allow for such expenditures and it benefits a beneficiary, and aligns with the overall purpose of the trust.
What are the permissible uses of trust funds?
Generally, trust funds are intended to benefit the beneficiaries as outlined in the trust document. This can include a wide range of expenses, and increasingly, that encompasses technology that improves quality of life. According to a recent study by AARP, over 50% of seniors report feeling isolated, and communication tools can significantly mitigate this. If a beneficiary has a documented need for communication assistance – due to disability, age-related decline, or other reasons – a trust can cover the cost of software like video conferencing platforms, speech-to-text applications, or specialized communication devices. It’s critical, however, that the trustee demonstrates prudent financial management and ensures the purchase is a reasonable and necessary expense, and documented appropriately for accounting purposes.
How does a trustee make responsible purchases with trust funds?
A trustee has a fiduciary duty to act in the best interests of the beneficiaries, and that includes making sound financial decisions. Before purchasing communication software, the trustee should carefully evaluate the beneficiary’s needs, compare different options, and consider the long-term costs (subscriptions, maintenance, upgrades). According to the American Bar Association, mismanagement of trust assets is a frequent source of trustee liability. For instance, a trust document might specifically authorize “expenses for health and welfare,” which could reasonably include communication technology. Detailed record-keeping is essential, with receipts and explanations for all purchases. Steve Bliss, as an experienced estate planning attorney, emphasizes the importance of clear documentation to avoid potential disputes or legal challenges.
What happened when a trust purchase went wrong?
Old Man Tiberius, a rather eccentric retired marine biologist, had established a trust for his granddaughter, Lyra, a budding artist with a rare neurological condition that affected her speech. The trust was intended to provide Lyra with support throughout her life. A well-meaning but inexperienced trustee, Tiberius’ nephew, saw an advertisement for a new, expensive communication system that promised to ‘revolutionize’ assisted communication. Without fully assessing Lyra’s needs or seeking professional guidance, the trustee purchased the system with trust funds. Lyra found the system cumbersome and ineffective, as it didn’t integrate with her existing assistive technology or align with her therapy goals. The trust had wasted several thousand dollars on a tool that didn’t improve Lyra’s life and created friction within the family. The cost of the unused software couldn’t be recouped.
How can a trust purchase be successful?
Luckily, after the failed purchase, the family sought guidance from Steve Bliss. He advised them to conduct a thorough needs assessment with a speech-language pathologist, who recommended a combination of readily available, affordable software and a personalized therapy plan. The trust then purchased a user-friendly video conferencing platform, speech-to-text software tailored to Lyra’s speech patterns, and funded regular therapy sessions. Lyra flourished. She was able to connect with friends and family, participate in online art classes, and express herself more effectively. The trust funds were used responsibly, enhancing Lyra’s quality of life and fulfilling the intent of Old Man Tiberius. This illustrates that with careful planning and expert advice, a trust can successfully leverage technology to support a beneficiary’s well-being. Approximately 70% of individuals with communication disorders report improved social engagement when using assistive technology.
“A well-structured trust, combined with thoughtful decision-making, can empower beneficiaries to live fuller, more connected lives.” – Steve Bliss, Estate Planning Attorney.
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About Steve Bliss at Escondido Probate Law:
Escondido Probate Law is an experienced probate attorney. The probate process has many steps in in probate proceedings. Beside Probate, estate planning and trust administration is offered at Escondido Probate Law. Our probate attorney will probate the estate. Attorney probate at Escondido Probate Law. A formal probate is required to administer the estate. The probate court may offer an unsupervised probate get a probate attorney. Escondido Probate law will petition to open probate for you. Don’t go through a costly probate call Escondido Probate Attorney Today. Call for estate planning, wills and trusts, probate too. Escondido Probate Law is a great estate lawyer. Affordable Legal Services.
My skills are as follows:
● Probate Law: Efficiently navigate the court process.
● Estate Planning Law: Minimize taxes & distribute assets smoothly.
● Trust Law: Protect your legacy & loved ones with wills & trusts.
● Bankruptcy Law: Knowledgeable guidance helping clients regain financial stability.
● Compassionate & client-focused. We explain things clearly.
● Free consultation.
Services Offered:
estate planning
living trust
revocable living trust
family trust
wills
banckruptcy attorney
Map To Steve Bliss Law in Temecula:
https://maps.app.goo.gl/oKQi5hQwZ26gkzpe9
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Address:
Escondido Probate Law720 N Broadway #107, Escondido, CA 92025
(760)884-4044
Feel free to ask Attorney Steve Bliss about: “Can I change my will after I’ve written it?” Or “What are common mistakes people make during probate?” or “Can I change or cancel my living trust? and even: “Can I get a mortgage after filing for bankruptcy?” or any other related questions that you may have about his estate planning, probate, and banckruptcy law practice.