How do you set up a trust fund for a child?


A trust fund a great way to ensure the safe and secure future of your child even after you are gone. There are two types of trust funds that you can set up: one is trust fund in which you can decide on the amount of money that will go the child every year; and, the second type is one in which the money will be accessible only when the child becomes an adult. Consult a lawyer to draw up a will that will dictate the amount of money and assets that will go to the child.
Q&A Related to "How do you set up a trust fund for a child?"
1. Name the trust after your child. Choose a trust name that isn't too lengthy. For example, "Bobby Smith Trust" is less cumbersome than, "The Bobby Jason Smith Trust
There are a couple different ways you can set up a trust fund. You can go through a lawyer to get one set up, but be prepared to pay for legal and administrative fees. You could always
1. Decide what type of Trust you want to set up. There are many different kinds of Trusts that are named specifically for what they are intended to accomplish. [1] For example, Trusts
You will need the services of a financial adviser, an accountant or a solicitor. Be sure you get this professional advice so that the trust is set up as you need it to be. You can
2 Additional Answers Answer for: how to set up a trust fund for a child
How to Set Up a Child Trust Fund
The Child Trust Fund is a UK government initiative designed to help children and their parents save for their future and give the child a better start to their adult life. Each child born after September 1 2002 and whose parents claim Child Benefit will... More »
Difficulty: Moderate
In setting up a child’s trust fund, first find a suitable trustee of the fund until the child is 18years, old enough t withdraw money. The parent, grandparent or guardian may then decide when to set up the fund: whether while alive or after they have passed away.
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