Trust

[Defib]

Hello

Im looking to set up a Trust for my 1yr old boy.

Basically, I would like all my assets to be put in the trust on my death.

My pension and etc should I die early etc.

I think the best age for him to access this would be 21 but not sure really.

What kind of trust etc? Any input??

 

[gimpex]

Go see a lawyer. He will know what to do. In the meantime think of who the trustees should be , as in effect all the assets in the trust will belong to them and they will act in the best interest of the beneficiary ( your son etc ) in utilizing those assets

 

[HavocXphere]

Trusts aren't as great as they used to be so I'd suggest crunching the numbers carefully

 

[mountainboy]

Trust still have their place.. Especially for assest protection and avoiding estate duties.

They not as useful for tax savings as in the past but I still find them very handy

But they a bit onerous to manage

 

[ice_cubes]

inter vivos trust

 

[Former member 61586]

inter vivos trust

care to elaborate?

 

[HitmanV]

...a friend whose trust was "locked" until they were 21, problem is they finished school at 18 and couldn't study until the funds were available at 21...

Spent 2 years struggling with no parents and no money.

Rather be specific with your will and wise with your investment.