How to Set up a Trust Fund for a Child?

Answer

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.
1 Additional Answer
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.
Q&A Related to "How to 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
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To set up a trust fund for a child or other family member, you simply need to contact a lawyer, banking rep or accountant to get you started. They can help you decide who to make
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Good question.
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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
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