Special Planning for Kids
Parents and grandparents often establish trusts for children in their estate plans. These are trusts that only go into effect if the parent or grandparent passes away before the beneficiary is old enough to manage money without help from an adult. Typically, the benefactor names another individual as the Trustee on the account, leaving the responsibility of the trust to the Trustee until such time that the beneficiary reaches a certain age or the money is exhausted. In the time between, the Trustee will serve as a fiduciary for the beneficiary.
There are many things to consider with planning for children. We are here to help you find the plan that makes the most sense for you and your family.
