Archive for the ‘Personal Finance’ Category
arianarjohnson asked:
My daughter’s birthday is coming up and instead of everyone in the family buying her all these gifts I would much rather if we could all put money into an account for her that no one can touch until she is 18. Now the most important part is that I want people to be able to put the money in the bank without me being, so guys I guess my question is will a trust fund be the best thing for my situation or what do you suggest
Rodrick Yap
My daughter’s birthday is coming up and instead of everyone in the family buying her all these gifts I would much rather if we could all put money into an account for her that no one can touch until she is 18. Now the most important part is that I want people to be able to put the money in the bank without me being, so guys I guess my question is will a trust fund be the best thing for my situation or what do you suggest
Rodrick Yap
lalala asked:
My Grandfather had a multimillion dollar estate that he had always planned to divide equally between me, my mother, and my sister and his step-son and two step-grandchildren. He passed away two years ago and his wife got all of it, and frankly, my family is worried that she is going to give a ridiculous amount to her family and leave my family with the smallest amount she can due to some issues between her and my mother. I got a letter from her lawyer saying that I needed to come to his office to sign papers for an “irrevocable trust” for me and my sister. I don’t have a clue what I’m going into and I would appreciate some advice.
Ferdinand Ravens
My Grandfather had a multimillion dollar estate that he had always planned to divide equally between me, my mother, and my sister and his step-son and two step-grandchildren. He passed away two years ago and his wife got all of it, and frankly, my family is worried that she is going to give a ridiculous amount to her family and leave my family with the smallest amount she can due to some issues between her and my mother. I got a letter from her lawyer saying that I needed to come to his office to sign papers for an “irrevocable trust” for me and my sister. I don’t have a clue what I’m going into and I would appreciate some advice.
Ferdinand Ravens
Joshua Lesser asked:
is there any way at all that i can gain access to a trust fund left for me by my great grandmother. the catch is, im 17 and im not supposed to get it until i am 18. but my family cant even buy enough food to provide for itself. is there any thing i can do . at all?
Walter
is there any way at all that i can gain access to a trust fund left for me by my great grandmother. the catch is, im 17 and im not supposed to get it until i am 18. but my family cant even buy enough food to provide for itself. is there any thing i can do . at all?
Walter
Jane asked:
What is the best way to arrange a trust document- or can they just be minors, and owners. I’ve heard family trusts will be expensive to run from next year.
Sydney Quickel
What is the best way to arrange a trust document- or can they just be minors, and owners. I’ve heard family trusts will be expensive to run from next year.
Sydney Quickel
aspen24 asked:
I have inheritance in trust fund from grandfather when grandmother passes. If I don’t outlive her can I will my trust to my children?
Sherry Cheon
I have inheritance in trust fund from grandfather when grandmother passes. If I don’t outlive her can I will my trust to my children?
Sherry Cheon
Tatiana asked:
Supposedly my step grandmother left me and my little brother a trust fund. I have no family to tell me whether or not this is true. I don’t know where to start to look? Call lawyers? Banks? I have no clue. It was in California. I am a Florida resident now. HEELLLPPPP please
Tyler Blanchfield
Supposedly my step grandmother left me and my little brother a trust fund. I have no family to tell me whether or not this is true. I don’t know where to start to look? Call lawyers? Banks? I have no clue. It was in California. I am a Florida resident now. HEELLLPPPP please
Tyler Blanchfield
QueAndAy asked:
I would like to create a will. However, I’m not comfortable with naming a family member or friend as the executor. Who then should be named as the executor on the will? Is it common for one’s lawyer to accept being named as an executor? Otherwise, are there executor service companies besides banks that would serve as an executor? I went to the trust department of my bank, but they wanted me to have a trust set up with them which would entail a yearly fee, instead of just being named as the executor when I die. Thx.
Vince Hofe
I would like to create a will. However, I’m not comfortable with naming a family member or friend as the executor. Who then should be named as the executor on the will? Is it common for one’s lawyer to accept being named as an executor? Otherwise, are there executor service companies besides banks that would serve as an executor? I went to the trust department of my bank, but they wanted me to have a trust set up with them which would entail a yearly fee, instead of just being named as the executor when I die. Thx.
Vince Hofe
Darrel asked:
The problem we are running into is that he took care of all the finances, and the mom isn’t even sure what bank they use. We want to setup a trust for the kids, but the banks we have called want to have an existing bank account from the family before they will establish a trust.
The problem we are running into is that he took care of all the finances, and the mom isn’t even sure what bank they use. We want to setup a trust for the kids, but the banks we have called want to have an existing bank account from the family before they will establish a trust.
Is there anyway we can do this without having to have an existing account? The trust will be funded by several friends and coworkers, and we want the mother to be able to administer it.
Azalee Kratt
cousinwaylon asked:
my parents passed away and left myself and 4 siblings a living trust with farming property. We are trying to sell this land but still farming in the mean time. We pay taxes on our farming income but also keep a bank account plus a CD to pay for farming materials, taxes, etc. We keep the CD in the trust as a back up in case there is some expense that our bank account cannot handle. Is there a problem doing this? Will we have to pay additional taxes or penalties for keeping this CD in our trust? thank you for any thoughts
Keila Woods
my parents passed away and left myself and 4 siblings a living trust with farming property. We are trying to sell this land but still farming in the mean time. We pay taxes on our farming income but also keep a bank account plus a CD to pay for farming materials, taxes, etc. We keep the CD in the trust as a back up in case there is some expense that our bank account cannot handle. Is there a problem doing this? Will we have to pay additional taxes or penalties for keeping this CD in our trust? thank you for any thoughts
Keila Woods
twubeam asked:
My mother passed away when I was young and she left me a trust fund with one of my aunts as trustee. I believe I am now of age when I am eligible to collect part of the fund, but how should I write my aunt (the trustee)? I want to be warm and nice, but I find it difficult to talk or write about money with family. My birthday was about two months ago and I was expecting her to approach me, but since she hasn’t and I live far away, how should I phrase an e-mail like this?
Amber Macknight
My mother passed away when I was young and she left me a trust fund with one of my aunts as trustee. I believe I am now of age when I am eligible to collect part of the fund, but how should I write my aunt (the trustee)? I want to be warm and nice, but I find it difficult to talk or write about money with family. My birthday was about two months ago and I was expecting her to approach me, but since she hasn’t and I live far away, how should I phrase an e-mail like this?
Amber Macknight