Posted on: 22nd Oct, 2009 07:11 am
My mother passed away and I am the successor trustee of her trust. My neice would like to buy her home. Since the house is in trust, can the trust gve a gift of equity to her to cover the down payment?
The Trust distributes assets and there shouldn't be anything left over afterwards. If the Trust left the house to you, you can provide her with a gift for the down payment, but it'll come from you - not the Trust.
Thank You
Thats correct. You can give her the gift for down payment