Crummey letter
- A communication sent by the controller of a trust, known as a Crummey trust, to inform the benefactor that they have a specified period within which they can retrieve funds
- Upon receiving the Crummey letter, the beneficiary decided to withdraw funds from the trust.
- The trustee ensured a Crummey letter was sent promptly after the deposit, giving the beneficiary the option to take immediate possession of the funds.
- He was advised to be on the lookout for a Crummey letter indicating his rights to the funds in the trust.
Provide Feedback
