I just want a page or two explaining the basics of what they are, how they are set up, and when they are useful. Can you set one up with a fairly small amount of money?
2007-03-01 10:18:43 · 3 answers · asked by Anonymous in Business & Finance ➔ Investing
There are revocable and irrevocable trusts.
Go to: http://www.investopedia.com
and search: Trust Fund
You'll get a ton of hits and they'll explain it out.
I'd suggest a revocable trust just in case...so you can "take it back" and change it in the future instead of setting it in stone (irrevocable trust)
They are useful for real estate planning or when you have true assets of your own - a car, a house, etc.
And as for starting one with a small amount of money - how small, and what is this trust really for? :) Without knowing this, we can't really help/advise...
2007-03-01 10:40:14 · answer #1 · answered by Fabulously Broke in the City 5 · 0⤊ 0⤋
Yes you can set one up for a dollar, but why? If you do not know how, it is very expensive.
What is it that you are trying to accomplish? Then lets set up a trust fund for that purpose.
2007-03-01 10:52:42 · answer #2 · answered by hebb 6 · 0⤊ 0⤋
Bank of New York.
2007-03-01 15:02:43 · answer #3 · answered by Anonymous · 0⤊ 1⤋