No. of Recommendations: 0
If anyone has any suggestions about what the best approach for investing for
our father, who is 46 this year, please let me know. My brother and I are
setting up a trust and are looking for the best investment approaches as to
how to gain in a span of 20 years. Please, any suggestions are welcomed.

You do not say why you are saving for him so I will assume he can not.

A trust can be expensive from a tax standpoint. Assume you two will be trustees so no fees and minimal other expenses. Might want to check your final plan with an elder attorny. There maybe alot of issues you are not considering.

If you can put money into his IRA I would do that. He would have total control but you could handle the paper work for him.

I would lean toward saving the money in your own name and not a trust. The problem is that you have the money if you are sued or need college loans etc.

A problem with the trust is that you are making gifts to your father and the gifts are probably not of present interest. This gives you gift tax problems. Trusts can be set up to eliminate the problem. My point is that you need good professional tax and leagal help to do this.

It is nice that you are willing to help out. Good luck.
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
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.