Reply to Do you know how much is in the family trust?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]This is the actual OP.

Somehow I got confused with the person who is paying $600 to maintain his father’s trust.

Neither I nor my sibling are paying any fee.  We just don’t know what is in the trust.  I feel confident that there is something in there since my father was a very diligent investor and gave me long lectures about the power of compound interest, and urging me to start saving and investing with my first job out of college, which I did and am grateful for.  My husband and I know have a great nest egg, such that we don’t need the inheritance from the trust.  But curiosity is itching at my brain nonetheless.

My parents have not had any major catastrophes (knock on wood) that would have cost big money, and received an inheritance from the generation before.  They are also not big spenders at all.

That is partly what is weird about this, because all of the above has been discussed quite openly, and the amount in the trust is now like the smarty-pants moment of “see what we did here, we lived below our means, saved and invested, and look at what we did.”[/quote]

Just because your parents say this, doesn’t mean they actually saved and invested, or there is money they will give to you via a trust.

My in-laws talk a big game and there isn’t a lot of money. There are also trusts and some of them just own some land parcels. A lot of people talk a big game and like to string kids along with money.

The next time the trust comes up I’d simply ask to see some statements.  [/quote]

I’ve seen this happen where a middle aged friend was essentially enabled to be unemployed/underemployed for the last 20 years of their parents life because of promises of large inheritance, then the rug was pulled out from under them at the last minute when they realized there wasn’t nearly as much as they thought. Instead of millions they’re looking at a few hundred k. [/quote]

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