Wish I had a Trust Fund

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[Post New]02/21/2015 20:04
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Anonymous
I have a trust fund with about 10 million in it. I can only touch it if I have a health emergency or if my bank account goes under $15,000 and then I have to write a long explanation to the trust officer and basicall beg them. Its not always what you think it is and as crazy as you may think this sounds, I wish I did not have this trust given the extremely limited access that I have and how fustrating it is that I really cant touch it!
[Post New]02/21/2015 20:24
quote
Anonymous
Anonymous wrote:I have a trust fund with about 10 million in it. I can only touch it if I have a health emergency or if my bank account goes under $15,000 and then I have to write a long explanation to the trust officer and basicall beg them. Its not always what you think it is and as crazy as you may think this sounds, I wish I did not have this trust given the extremely limited access that I have and how fustrating it is that I really cant touch it!


Will you ever get it? Will anyone?
[Post New]02/21/2015 21:11
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Anonymous
Nope! But kids can pay school from it. It really stinks and it makes me resentful of my parents and their choices.
[Post New]02/21/2015 21:12
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Anonymous
Anonymous wrote:Nope! But kids can pay school from it. It really stinks and it makes me resentful of my parents and their choices.


Doesn't the trust have to terminate at some point in the future? I thought this was a requirement.
[Post New]02/21/2015 21:17
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Anonymous
No it doesn't have to terminate so long as there are heirs that are alive.
[Post New]02/21/2015 21:19
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Anonymous
Anonymous wrote:No it doesn't have to terminate so long as there are heirs that are alive.


Argh! Rule against Perpetuities strikes again!
[Post New]02/21/2015 22:17
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Anonymous
Anonymous wrote:I have 3 friends with trust funds. 2 lost both parents before they were 18, the other lost them before she was 22. Their parents never got to meet their spouses or their children, never got to see their own kids become successful, Etc.



+1. I feel very fortunate to still have both parents and most grandparents still around. If your only problems are money (and I bet my HHI is alot less than OPs) consider yourself blessed!
[Post New]02/23/2015 08:17
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Anonymous
You are literally one of the richest people on the planet. Seriously. Congrats! You won the lottery. You work your butt off and can actually live comfortably because of it. Most people work their butts off to put too little food on the table, or on the floor.

This is what I tell myself when I feel the way that you do.
[Post New]02/23/2015 08:26
quote
Anonymous
Anonymous wrote:I have a trust fund with about 10 million in it. I can only touch it if I have a health emergency or if my bank account goes under $15,000 and then I have to write a long explanation to the trust officer and basicall beg them. Its not always what you think it is and as crazy as you may think this sounds, I wish I did not have this trust given the extremely limited access that I have and how fustrating it is that I really cant touch it!


Wow, how "frustrating" to never have to worry about a health emergency destroying your family's finances or to never have to have an emergency fund.

You are an ungrateful idiot, PP.
[Post New]02/23/2015 08:28
quote
Anonymous
Anonymous wrote:I have a trust fund with about 10 million in it. I can only touch it if I have a health emergency or if my bank account goes under $15,000 and then I have to write a long explanation to the trust officer and basicall beg them. Its not always what you think it is and as crazy as you may think this sounds, I wish I did not have this trust given the extremely limited access that I have and how fustrating it is that I really cant touch it!


Any normal person would be pissed about that. I'd probably get a ton of useless PhDs for fun and out of spite.
[Post New]02/23/2015 08:36
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Anonymous
Life is easier if you surround yourself with "normal" people.

[Post New]02/23/2015 08:40
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Anonymous
Anonymous wrote:
Anonymous wrote:I have a trust fund with about 10 million in it. I can only touch it if I have a health emergency or if my bank account goes under $15,000 and then I have to write a long explanation to the trust officer and basicall beg them. Its not always what you think it is and as crazy as you may think this sounds, I wish I did not have this trust given the extremely limited access that I have and how fustrating it is that I really cant touch it!


Any normal person would be pissed about that. I'd probably get a ton of useless PhDs for fun and out of spite.


Pretty sure that makes you a petty weirdo, not a normal person, so don't presume to speak on behalf of the normal people out there (who would be extremely grateful for this).
[Post New]02/23/2015 08:56
quote
Anonymous
Anonymous wrote:I have a trust fund with about 10 million in it. I can only touch it if I have a health emergency or if my bank account goes under $15,000 and then I have to write a long explanation to the trust officer and basicall beg them. Its not always what you think it is and as crazy as you may think this sounds, I wish I did not have this trust given the extremely limited access that I have and how fustrating it is that I really cant touch it!

I have a very similar situation, and I feel extremly lucky. I would never consider asking for any of it for a reason other than education ir a true emergency (which we luckily haven't experienced). I had the ability to get a good education, and my kids will do the same. Right now, we are in a wonderful public school, but it is great to know that we could switch to private any time if it felt like a better fit. I have a jd and have considered getting other degrees on different occasions, and I feel extraordinarily lucky that I am fortunate enough to be able to make those considerations without thinking of the money. So far, it hasn't made sense, but my family has a history of going back to school during retirement because we like education, so maybe I will do that too if I want to play with a new interest. We work hard and save aggressively for retirement, but I don't have to worry about college costs and it is so freeing to know that we have such a large safety net if we were to need it.

I don't undersyand pp's attitude at all.
[Post New]02/23/2015 10:07
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Anonymous
Transfer to public school. Move to a cheaper area.
[Post New]02/23/2015 10:33
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Anonymous
Wow, how "frustrating" to never have to worry about a health emergency destroying your family's finances or to never have to have an emergency fund.

You are an ungrateful idiot, PP.

I am not someone who sits at home waiting on this fund and with a household income $500k plus having a emergency fund tied to some trust isnt something that really helps me!
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