Reply to Testimentory trust for minor children - what terms would you put on it?

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Reply to "Testimentory trust for minor children - what terms would you put on it?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Trustee (a professional, not family) can disburse what they see fit at any point; kid is entitled to half of what is there at 30 and the other half at 40. [/quote]

Those professional trustees take a large payoff for their work. [/quote]

It's 1% of AUM. Since I have never used a professional to manage investments, I saved plenty on the front end.

https://fhtrust.com[/quote]

What’s 1% on an $8,000,000 trust for 15 years?

Parents die when kid is 30.

Over a 15 year period (if kid gets remainder at 45), that 1% [/quote]

Kid gets half at 30 and half at 40. Our use case for this plan is that we die when the kid is not 30, but 18. Someone else needs to manage the money at that age, and we have no family we would want to do it.

1% of AUM for that interval seems like a small price to pay for not putting the entire sum in the hands of an 18 year old.

Trusts can be changed. If the kid is past 18 and responsible (say 30, as in your example), we could change the terms. This is the plan for now, when kid is 12.

I sure do appreciate your concern for us, though, and hope you're directing the same scrutiny to the people involved in managing your money, if there are any. [/quote]

Testy! It would have been okay to say: yeah, it IS a lot of money being thrown away even in years the money manager makes no distributions and over 10 years, it’s like throwing away 10% of our kid’s inheritance. We don’t have another option that will work, though. [/quote]

It also would have been okay for you to have asked questions about any of that before weighing in with unasked-for advice.

But you didn’t do that, so I felt no obligation to moderate my response to you.[/quote]

The info was for everyone, not you alone. It’s the weekend- try and relax a little.[/quote]

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