There’s no doubt about it, the cost of a quality education continues to rise. Being able to fund your children’s education is important to many of our clients at TrustAttorneyOnline.com and are part of many of the trusts we help execute. In order to ensure you and your children gain the maximum benefits, a trust has to offer you need a trust attorney that takes the time you deserve to fully understand your needs.
Why Create An Educational Trust?
The most common reason is control over the age at which the beneficiary receives their funds. It is a true concern for many that their minor child receives control over these funds. In an educational trust fund, the trustor may choose from language limiting access to the trust’s assets in a variety of ways. This is why creating an educational trust fund with the right TrustAttorneyOnline.com help is of the utmost importance. You’re sure to only find the resources you need at rates that won’t put your assets in jeopardy.
Making Sense Out of Educational Trusts
It’s challenging to speak generally regarding any type of estate planning or when you should or shouldn’t establish a trust. However, due to the need for outside assistance in creating your educational trust, it is safe to say it should be significant in size. Smaller valued assets may be better placed in an educational savings plan, such as a 529.
The last and ever so important piece of the equation is designating a trustee to disperse the assets properly. Then designate how the funds may be used should the child decline continuing their education or take a path in which all of the funds allocated for use for education be exhausted.