Trust Funds & Age?

[fire&ice]

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On 11/24/2003 11:41:44 AM lop wrote:

Hmmmm....I thought my attorney has been telling me I could do an educational trust for my niece and nephew any time. I know their grandmother has started one for them. It is probably under their parent's control tho. I'll have to check again.----------------

Ah, I misunderstood you. I meant the tax benefits to me while I am alive.

Also, Magna, we have decided not to fund the living trust - but it will be funded upon our death. The trust will be "our" estate. The disperments from the trust will go to the receiptiants. It is at this point that we must stipulate whether the cash goes directly to them regardless of age or goes into their *own* individual trust. That's when the restrictions/disperment comes into play. At least that is my interpretation of all this legalease.

I'm beginning to agree with all of you. I think 30 may just be a good age for all the various reasons listed.

 

[hoorray]

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On 11/24/2003 6:16:08 PM fire&ice wrote:

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I'm beginning to agree with all of you. I think 30 may just be a good age for all the various reasons listed.
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Just thinking about it again here has convinced me that it is worth the effort to set up the trust to pay out at a certain age (which for me is 30). I guess I'll just have to disagree with my attorney, who thinks it is too much trouble. I have to believe there are simple, low cost ways to accomplish this if you don't have to hire a lawyer-type executor.