Money magazine Comments - Can a trust prevent kids from wasting their inheritance?

Comment by Joseph L. Sexton ()

Joseph L. Sexton () — Thu, 07 May 2020 00:44:23 +1000

A trustee is always mentioned BUT who does one trust when your Children are the ones receiving your hard earned money. A Spendthrift Trust sounds like a good idea but again who will be a trusted Trustee ? My Children (?) are 49 & 53 years old. Both in my opinion would P**S away my 40 years of frugality & saving & investing ASAP. So any & all suggestions would be appreciated.

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Comment by Vanessa Berg ()

Vanessa Berg () — Sat, 06 Jun 2020 10:28:51 +1000

Once you're dead, there's nothing you can do. So leave it to a good cause, I suppose. Best wishes

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Comment by Sandra Wilson ()

Sandra Wilson () — Mon, 30 May 2022 06:00:55 +1000

My children aged 16 and 13 were left a small inheritance of $10000 each from their great uncle who recently passed. The will states that a trust is to be set up for them and they cant access till they are 18. Is it expensive to set a trust fund for them? What's the best way to do this? Any other advice would be appreciated. Thank you

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