Reply to How to Keep Inheritance Separate

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[quote=Anonymous][quote=Anonymous]How old are your kids?  I know no one on here likes Trump, but if your kids are under 18, you can set up Trump accounts for each of them on July 4 and contribute $5k per year.  They are the equivalent of a Roth IRA (tax-free growth) without a work requirement.  Do that until they are 18.  It's a small amount of money, but more than zero.  Those are considered "completed gifts" and are therefore shielded from divorce and third-party estate claims.

For the rest, I'd open a separate brokerage account at a different provider than your marital accounts (so if you use Fidelity, switch to Vanguard). Invest it in tax-efficient funds (I personally like VTI and BRK.B), but pay any taxes you owe from the separate funds and keep a record.   Don't spend any of the money unless there is a true emergency. [/quote]

These trump accounts are a bad investment, there are much better ways to invest, and they can be persuaded to hand over the money to a stepmother or step sibling at age 18. Nope. [/quote]

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