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bigtravis

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I'm getting a fairly large settlement here soon from an injury I about died from. I have thought on this a bit but it didn't take me long to decide. My ex who I have been away from for three years now had two daughters. When we met the youngest was one and the oldest six. I pretty much raised the youngest one. I have always wished that I could have done more for them. So I have decided to give each of the girls $10,000.00 for college. My attorney has already said that at that time he would draw up the paperwork for me to make it binding that the money would only go towards them and not in the direct hands of my ex.
 
I'm getting a fairly large settlement here soon from an injury I about died from. I have thought on this a bit but it didn't take me long to decide. My ex who I have been away from for three years now had two daughters. When we met the youngest was one and the oldest six. I pretty much raised the youngest one. I have always wished that I could have done more for them. So I have decided to give each of the girls $10,000.00 for college. My attorney has already said that at that time he would draw up the paperwork for me to make it binding that the money would only go towards them and not in the direct hands of my ex.

$10k may cover one semester :rolleyes:
 
You using a trust or a 529 plan?

If its solely for education, the 529 would work better. You keep total control and its easy (aka quick and free) to set up.
 
Whatever you do, put the money into something that is both secure from the ex and gets decent interest. My stepson received a settlement from an MVA and the money was protected to ensure only he could ever touch it and not until he was 18, but the interest was utter SHIT (less than 1%) which lost him a lot of potential money.
 
You using a trust or a 529 plan?

If its solely for education, the 529 would work better. You keep total control and its easy (aka quick and free) to set up.

I'll look into the 529. Thanks. By the time they reach the age for college they should have aquired some good interest. One is 8 now and the other is 15.
 
thats very generous of you BT... you a good man. i wish i could get an injury and almost die from. were you in a car accident or what not?
 
I'll look into the 529. Thanks. By the time they reach the age for college they should have aquired some good interest. One is 8 now and the other is 15.

Def the way to go. If you want it set up for free shoot me a pm. It's honestly a quick procedure. Don't let someone charge you for shit you don't need.
 
Nothing for the ex, huh? It didn't end well? You could get sloppy seconds (from whoever is giving it to him now)!
 
I'm getting a fairly large settlement here soon from an injury I about died from. I have thought on this a bit but it didn't take me long to decide. My ex who I have been away from for three years now had two daughters. When we met the youngest was one and the oldest six. I pretty much raised the youngest one. I have always wished that I could have done more for them. So I have decided to give each of the girls $10,000.00 for college. My attorney has already said that at that time he would draw up the paperwork for me to make it binding that the money would only go towards them and not in the direct hands of my ex.

Good for you bro. This is a very big hearted gesture.
 
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