Should I set up a trust fund for my kid?

[Testosterone boy]

Slowly but surely, this thread becomes about you. What a surprise. "My children, my ex, blah blah blah".

Some things NEVER change.

 

[HansNZ]

Slowly but surely, this thread becomes about you. What a surprise. "My children, my ex, blah blah blah".

JohnyJuice, you only post to bitch at people, and I see I am not the only one who gets targetted. HALT right there and take this bitching elsewhere. Don't hijack my thread!

Advice on TRUST FUNDS anyone?

 

[Fonz]

Got a better idea.

You said the trust fund would be $250K.

Well,

Why not make the interest available to him when he turns 21..and the principal when he turns 25.

At 6%...thats a good $15K/year from 21-24.

Then he gets the principal($250K), when he turns 25.

Fonz

 

[JohnyJuice]

JohnyJuice, you only post to bitch at people, and I see I am not the only one who gets targetted. HALT right there and take this bitching elsewhere. Don't hijack my thread!

Advice on TRUST FUNDS anyone?

I dont dislike you as a person. I just disagree with all of your social view points. Bikini on the other hand....

 

[Bikini Mod]

Some things NEVER change.

Funny how of all the people posting on this thread only you two seem to have this opinion. And worse, YOU perpetuate it. But I am the one who is a babbling psycho? *wink* OK

I would think that if Hanz had ANY INKLING that I was the one hi-jacking his thread, making it "about me" (as you rocket scientists so eloquently pointed out to him... and thank God he has you, because after all he is ONLY a STUPID HOMO - right? ) he would most certainly have at me as he doesn't seem shy OR stupid.

But then again, I guess I answered my own question, now didn't I?

LOL....

This momentary brainfart brought to you by Mr Testboy and Mr Juice is now over. Back to the topic at hand.

PS - Mr Juice, one would think that one would have to KNOW someone as a person before making a comment about whether or not they like them as a person. Silly me. I give you too much credit yet again.

 

[Fonz]

You have to love how incredibly serpentine EF threads are...lol

Fonz

 

[AustinTX]

I'm in favor of them, but you'll have to check the type that gives you and the kid the best tax advantage in NZ Chosing the proper type can be a pain in the US.

IMO the kid should be able to use a percentage of the funds for school; but then the fund should be locked down until he is 30 (or 25 if you're feeling weak). Sounds harsh, but trust fund babies (yeah, it's not really enough to qualify as that, but with a rich mommie too, kinda close) don't turn out very well IMO when the have access to the money at 18 or 21. The kids need to go to school, and learn to support themselves first, then the money could be truly useful later, when they've matured some....

 

[-SD-]

I'm in favor of them, but you'll have to check the type that gives you and the kid the best tax advantage in NZ Chosing the proper type can be a pain in the US.

IMO the kid should be able to use a percentage of the funds for school; but then the fund should be locked down until he is 30 (or 25 if you're feeling weak). Sounds harsh, but trust fund babies (yeah, it's not really enough to qualify as that, but with a rich mommie too, kinda close) don't turn out very well IMO when the have access to the money at 18 or 21. The kids need to go to school, and learn to support themselves first, then the money could be truly useful later, when they've matured some....

This is sound advice. Im 28 and quite different then when I was 20 or 21.

 

[musclebrains]

It sounds like you are setting up an education fund, not a trust fund in the usual rich kid's sense. You can regulate the way the money is spent -- for education, primarily, and then for whatever you care to specify. A trust in my family for my nieces and nephews is only for education but there are pages of stipulations set by their grandparents, so that buying a house, travel to a new place, etc., can be treated as "education." Indeed, I took my nephews hiking in the Pyrenees and the trust paid the bills since one of my nephews is majoring in environmental science.

 

[Fonz]

It sounds like you are setting up an education fund, not a trust fund in the usual rich kid's sense. You can regulate the way the money is spent -- for education, primarily, and then for whatever you care to specify. A trust in my family for my nieces and nephews is only for education but there are pages of stipulations set by their grandparents, so that buying a house, travel to a new place, etc., can be treated as "education." Indeed, I took my nephews hiking in the Pyrenees and the trust paid the bills since one of my nephews is majoring in environmental science.

Pyrenees?

Then you must have gone up el Monte Perdido. A good 2500m climb.

Fonz