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Reply to "Do you have a trust fund?"
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[quote=Anonymous]I'll bite to some degree . . . 1. What is your ethnic background? (WASP, Jewish, Asian, Hispanic, etc)---southasian 2. Did you come from "old money"? How many generations back does your family have wealth?---We are as new money as new can be---parents immigrated to the US in the late 60's, and were very shrewd, and very hardworking. 3. What is the size of your trust fund? If you're not willing to type a number, a range would be great.---In all honesty, I have no idea, I just know that there is some money in it. About 5 years ago it was the teen 7 figures---16million or so to be split between me and my two siblings, but that was the low point. 4. At what age did you receive it?--when parents die----however, it will skip a generation, so I get nothing other than control until my kids turn 32 and when the kids turn 32 I have to distribute it to them. 5. When did you find out that you had a trust fund? When you were a kid? When you were in college?---I found out about 5 years ago during the recession in 2009. 6. What do you plan to do with it? --Nothing really. I receive it, but don't really b/c it's given to the kids. The kids are only allowed to take a certain percentage out each year, up till they are 72, and then they have to transfer to their kids, who are then responsible for giving it to their kids(grandkids) at the age of 32 again---basically it's set up to skip a generation for each generation so that nobody gets too comfortable. [/quote]
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