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Reply to "Trust for kids from grandparents: How should I handle it?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]So is the $1.5m all the money? And your mom has the pension and social security left? Anything else for her? I assume there is a paid-off house? I would make sure that she is taken care of as well. If she ends up needing nursing home care, that pension/social security may not be enough for her. I would focus on having available to pay for college, and leave it at that. Full pay for private college would take the vast majority of what is there. [/quote] OP here. Before funding the trust there is 2.5 million in investment accounts and IRAs. The trusts will total 1 million dollars. She also has a paid off house. No other major assets.[/quote] So $1m for four kids? So about $250k per kid in today's dollars? That will basically be college. Consider college paid for and leave it at that.[/quote]
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