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Subject:  Re: funding grandkids college Date:  9/18/2009  1:51 PM
Author:  nanariggs Number:  15700 of 22292

thanks to EVERYONE for your replies. I wrote this inquiry because we will be talking to our trust manager next month. I need to be prepared and think this through. I will continue to gather all your ideas and suggestions, research what I can, and discuss this with him before making any decisions. your ideas had suggestions have helped me think all this through. i agree putting money in their name without any oversight is risky. We can't trust bank and insurance execs to do the right thing, I don't think an 18 year old is any more trustworthy. I can't put their parents in charge of ANY significant amounts of money for them (long story). does any of the education trusts like the 529s guarantee oversight?

no matter what happens to me or our retirement savings, i want to assure the money is there for those boys. i am also concerned about blending the insurance settlement money with our regular retirement savings. my husband views that money as 'play money' and might just decide to play with it (which he did with all of his parents inheritance) OR decide to split the money among all of the kids equally (he still believes the equal distribution of education money is the way to go).
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