Comments on: Trust Fund Basics: Setting Up A Family Trust

By: Mary

Mary — Wed, 18 Jan 2012 01:14:57 +0000

I am not by any means rich, but I do own my home which is new, have some money, not alot, own a timeshare and have jewelry that my husband had bought me in the 42 yrs we were married. His illness almost cost us everything and I want my children to have what I have. Not the State or Federal Gov’t. What can I do right now to prevent this from happening.

By: June Bell

June Bell — Tue, 01 Nov 2011 17:37:23 +0000

Hi I would like to put away savings for my 2 Grandchildren – ages 11 and 6 – problem is I have fallen out with my daughter their mother I also have been stopped from seeing them for over 2 years. So I would like some advice as to how to invest some money for them as I have heart failure and don’t know what the future may bring me.

Regards
June Bell

By: Mike G

Mike G — Sun, 02 Oct 2011 18:34:12 +0000

My mother passed away and left me as her Personal Rep. In her will she set up a trust for my sister who lives in Alabama and I live in Colorado. My nephew is the trustee and he lives in Alabama. How do I need to transfer fund from the estate to the trust in Alabama? Do we need a bank account already set up so I can transfer estate funds? Do I set up the acct, or does the trustee do that? Should the account be named the trust’s name? Where only my nephew can take out the funds or anything else?

By: Shannon

Shannon — Thu, 18 Aug 2011 00:22:03 +0000

The only problem with trust are that they are so private, and if family members are not informed in detail about the trust, and speaking of large trust. The holding companys and trustees will not inform you of anything, because they receive fees from these trust. You may never even know it even exist, and they like it that way. If you chose to do a trust make sure to inform the beneficaries and heirs of the trust, and leave papers with them regarding the trust.

By: Alan

Alan — Mon, 17 Jan 2011 00:53:13 +0000

I would like to set up a trust fund for my children for a junior trading account. Each of them has a lump sum accumulated through savings accounts which at first paid good interest but not any more. If I am a trustee and buy stock market shares for their fund that makes much more sense than buying each stock 3 times [I have 3 children]. The eldest is coming up to 16 so the fund would run for 2 years. From past experience, I would hope to at least double their money in that time through careful trading on the AIM markets providing there is no collapse. No way they could earn that in a savings account!

By: PATTY HAUPT

PATTY HAUPT — Sat, 26 Jun 2010 15:44:13 +0000

yes i want to know more about a fund for my late husband’s children just for those two young men i would like to do something in memorial for his death he died 2 and a half year’s ago at the of 41 over a drug overdose; he also had a mental illness which could have triggered this death . I have been trying to find his sons as long as he has been pasted and i am still so close in finding them the money needs to go them not their mother; she used their dad and took everything he had pretty much. I see why this man had an alcohol and drug problem between her and his step father no wonder he had problems but i need to find out what i can do about a trust fund for the his 2 sons and have it fixed where their mother cannot get it so if you would please email me back on this.

Thank you, Patty Haupt

By: Minnie Jane Thomas

Minnie Jane Thomas — Tue, 20 Apr 2010 15:36:30 +0000

I, too, could use a draft of a family trust. I need to establish one but do not have a draft to copy from.

By: Elphas M. Buthelezi

Elphas M. Buthelezi — Thu, 11 Mar 2010 08:00:20 +0000

Could you help me with a draft of a family trust? I need to establish one but do not have a draft to copy from.

By: robert carrera

robert carrera — Tue, 23 Feb 2010 19:12:52 +0000

very informative

By: The Smarter Wallet

The Smarter Wallet — Tue, 24 Nov 2009 22:47:10 +0000

@Mrs. Bartholomew,
Sorry to hear about your loss.

But for everyone asking for advice on this site, please note that we are NOT qualified to give you professional financial advice. We provide information here just for the sake of education and discussion. If you need any assistance, please contact a professional financial adviser. This site is just a personal blog that discusses subjects in finance.

For “do it yourself” type of information, please check out Nolo.com. They may have books that you may be able to use to help you with some of your financial processes and paperwork.

Best of luck to you all.