Message Font: Serif | Sans-Serif
No. of Recommendations: 0
PapaDoc asks: Do you have any information on how it works? (the RICKY trust).

It's been about 2 years since I set one up for each of my grandkids and I no longer have the packages (my children will get the paperwork until the grandkids are of age). But rjm1 is correct that it is an irrevocable trust which is set up to be tax defferred. I also agree with rjm1 that the procedure is probably more costly than it should be but frankly I don't know another way to accomplish the task without taking on an institutional trust and financial manager. 50 to 60 years is a long time for any individual to manage such an instrument.
Print the post  


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.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! 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.