Does anyone know an easy way to set up a trust fund? I want to set one up for my nieces and nephews. I plan to put in after-tax money. I plan to front load the four of them with $1000 each. I am not sure if I will add more later, but I would like the option available if I decide I want to. I do not want to have to file any tax paperwork on them each year, and I do not want their parents to have to file paperwork either. It would be nice if I could set a date that would be the earliest they can be cashed in. When they are cashed in I would like them to have to do the tax paperwork (if any exists) not myself, and not their parents.
Does such a thing exist? If exactly what I want does not exist, is there anything close?
I would want the funds to mature for 23-25 years so all four of them would have to wait until they are 25 to cash in.
2007-10-21
05:54:04
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3 answers
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asked by
crazylifer
3
in
Personal Finance