UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next
Author: PolymerMom Big gold star, 5000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76078  
Subject: Re: Trust Funding Date: 2/2/2014 8:56 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 1
I second everything Rayvt said.

Both our sons benefited greatly from the trusts left by their paternal grandparents. It wasn't a great deal of money, but it was enough to prevent them from going into debt to get advanced college degrees.

They get control of 25% of the trust at 25 years old, another 25% at 30 and full control at 35. The older boy (27) hasn't bought a flashy car, much less bought a house or condo, using the trust for a down payment - even though he's working full-time now.

That said, the trustee can make any decisions about turning the money over to the grand kids for whatever reason, depending upon the wording of the trust. If the wording of the trust hasn't been specified, consider adding some flexibility.

Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Value Hounds

Netflix Riles Investors
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.