Reply to What percentage of the population do you think has a trust fund?

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[quote=Anonymous][quote=Anonymous]Not everybody that receives money from family has it in a trust.[/quote]

the opposite is also true -/not everyone that has one gets money from it.  I’m told my brother and I have one, but I’m 47 and he is 52 and we have never seen a dime from it (parent still alive), so maybe it’ll make my retirement better or maybe I wont have to stress about sending my kids to college but I’ve worked and saved assuming it is non-existent.

The other thing is, many people (myself included) have planned what is called a testamentary trust, which means that my will says when I die my assets and life insurance proceeds go into a trust for my kids.  there is no trust now, but there will be when I go.  there are a number of reasons to do this - estate tax protection by not leaving it all to my spouse who then has to leave it together with his assets to the kids (more likely to trigger estate tax), allows for a trustee (either spouse or, if he’s dead, my brother) to be a trustee in case our kids arent ready to inherit a bunch of money, etc.  so people could call that a trust fund, but it doesnt mean it is millions - could be a few hundred thousand.  [/quote]

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