Anonymous wrote:I have not read through this thread.

I'd believe the Trust attorneys. Apply for financial aid. The money is your children's to spend, not yours. So get whatever FA you can, and then ask Trust to help if you need to make up the difference.

Maybe the kids don't want to use their $1M on private school before college?

Anonymous wrote:

Anonymous wrote:The private schools are 100k+ for a year of tuition for both. The Fund totals about $1M currently for each kid. Obviously want to grow and keep for for them till they reach age 25 to take. At $100k a year for 6 more years and 4 more years each not incl college, that just seems a ton of spend! Our FA provides for 40% right now of the tuition total.

The Trust fund people seem to feel that we can keep FA and supplement a bit more via fund if we wanted to help our finances.

I wasn't sure if FA negates our opportunity to do that in total?

We are a full pay family of two that sacrifice significantly to afford private school. We also contribute to the school so that funding is available to families who need it. As a barely able to afford it full pay family I am appalled at your attempt to hide the money so we and other families can pay for you when there are others who really need the money and for your kids to walk out with $1 million each at others expense. Shame on you.

Anonymous wrote:I love how you want the school financial aid fund to pay your kids tuition and your kids are millionaires.

Anonymous wrote:People are conflating what OP can afford vs what her children can afford.

The estate is not the child’s asset. It’s in trust: not an asset.

Good luck OP. Their windfall shouldn’t mean you have to pay more than you would have had to. If you were planning to pay/ that is.

Anonymous wrote:The private schools are 100k+ for a year of tuition for both. The Fund totals about $1M currently for each kid. Obviously want to grow and keep for for them till they reach age 25 to take. At $100k a year for 6 more years and 4 more years each not incl college, that just seems a ton of spend! Our FA provides for 40% right now of the tuition total.

The Trust fund people seem to feel that we can keep FA and supplement a bit more via fund if we wanted to help our finances.

I wasn't sure if FA negates our opportunity to do that in total?

Anonymous wrote:People are conflating what OP can afford vs what her children can afford.

The estate is not the child’s asset. It’s in trust: not an asset.

Good luck OP. Their windfall shouldn’t mean you have to pay more than you would have had to. If you were planning to pay/ that is.

Anonymous wrote:in a generation skipping trust, the assets are not included in the child’s estate, which effectively protects their estate. They can also retain complete control of their own trust during their lifetime.

Anonymous wrote:This seems fairly straightforward. Tell the truth and answer the questions on the financial aid for honestly and fully. Then see what happens. I'm guessing the answer will be no aid, but the way these things play out is sometimes surprising. If you're honest and they still award financial aid, I don't think you're in the wrong to take it. (I would have major questions about how the school is making decisions, but that's a separate issue).

DON'T omit the trust info when asked. It's unethical, and from a more practical standpoint, if the school finds out about it, you could be asked to leave or not invited back.

As someone else pointed out, if your financial aid is currently covering 40%, you're talking about 25k-ish for each kid, max. A million dollar trust, well-invested, should be spinning out more than this each year, so it can easily cover that and more (to ease your finances) without touching the principal. Or it can just cover financial aid and grow the principal. And this is a choice for you to make - keep the same family budget and grow the trusts, or ease the budget and grow the trusts a bit less.

Anonymous wrote:

Anonymous wrote:If each out your children have $1M - do you think they should get financial aid?

This, 100% this. Why should people with less money than you kids pay for your kids? Just stop it. If you don't want to spend the money on private, then take them out of private. Don't steal that money from hardworking families who are all paying for your kids' financial aid.