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If I put $100,000 into a trust fund for my 10 year old niece, what kind of disbursements should I al

Author : MthrNatures_Son

Submitted : 2018-02-26 02:03:06    Popularity:     

Tags: fund  year  put  trust  disbursements  

My wife and I have been going back and forth on this. My wife wants to just turn over the trust and its investment growth over to her when she is 21. I feel that could ruin her life...she can get a cheap apartment, work part time minimum wage, buy a car,

Answers:

Set the age at 30 or 35, to be safe.

$10,000 at 18, then $3,000 each time after she finishes a quarter of college ($5,000 if on semester system), 1/2 of the remaining balance at 25, and the remainder at 26 ... or, you may want to make some provision in the even she gets married instead of / during / after college.

>> Instead of a trust (unless you are dying) Just pass out what you think is appropriate at the time - based on her needs (car, college, marriage, baby) and maturity level to use the money wisely.

Throwing $100k at a 21 year old, assuming they aren't coming from money to start with, is a good way to throw your money away. The child is 10. So much can happen in the next 11 years. Sorry to say, but this child could be a drug dealer. You just don't know. Even if she does have a good head on her at that age it is too easy to blow. Give her some. Let it grow. If you want, you can have regular disbursements but also allow for you give money whenever you like. Maybe set it up so that if you give her $20k today it reduces her next scheduled disbursement.

I like your ideas. Most 21 year olds would just run through the money if they got it then.

I'm with you - turning the entire trust over to a 21 yr old could be disastrous. Since you have no idea what sort of adult she'll turn into - a cautious approach is best. You could consider allowing more access in her 30's , 40's , but overall - it's a good plan

You can have it so it pays while in college, but only if. You can put a degree as a requirement to receive, you can also delay turning any of it over until a certain age, like 25. Lots and lots of things that you can attach but once she is 30 or so, still not having her own control over it, would just be cruel.
You are right about the not trying thing knowing it is out there and such, i have known quite a few that have skated. So not telling her it exist, is the option that i took for my daughter.

I agree with you.

If you dont want her to make her own mind up about what to do with the money at 21 then dont bother with the fund in the 1st place

Just give her a sum you think appropriate when you want to

What do I think about it?
- I think there is more to this story than you are saying

What the f//k has it got to do with you how your niece decides to run her life after age 21?

why would you want to set up a 100k trust fund for a niece at age 10 in the 1st place?

Make it age 25. Most people have it together by that time.



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