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Reply to "$$$ car for trust fund kid?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I’m not sure where to post this. Teen with trust fund wants $$$ to buy their first car within the next three months. Trust fund will transfer completely to teen in about 12months. If you were trustee, what would you do? [/quote] I assume you are responsible for remitting reasonable expenses. If it's a minor with a legal guardian, follow the advice of guardian. They may prefer a loan (even if it gets laid off shortly after initiation). If it's an adult, do you have any right to withhold the funds? Buying a car is within the realm of normal expenses. Get info on how much the car costs exactly, and write a check to the seller. [/quote] $20k. The car the kid wants costs $20k[/quote]
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