Which is better - Child Trust Fund - or regular bank account?

savona_winds asked:

I’m expecting a baby - can you tell me which is a better deal?
Do I open a Child Trust Fund? The govt gives me £250 then I can put in £1200 a year - tax free - for 18 years and the money is locked in with no interest.
Just open a regular bank account (I can be very disciplined with payments), earn interest, but pay tax.
Appreciate your time,
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Filed Under Personal Finance | 1 Comment

I loathe myself for being so indulgent, why?

sarani2 asked:

Lets say im a trust fund child for example, I spent nearly 100,000 dollars this year alone. I recently cut the habits out. I have quite massive amounts left and I hate having this money. How do I live with having money? I dont deserve it. Ive bought everything under the sun, luxury cars, vacations, fine watches and jewelry. I have it all and dont know where to go from here. How do I ever get out of this mess?
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Filed Under Other - Society & Culture | 2 Comments

Is it worth investing?

JD asked:

I have recently had my first child and I am setting up a child trust fund for him. One option is to put the money into a share hold account where a reputable bank invests the money into shares.

My question is - is it is worth pursuing this course with the current economical turmoil?
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Filed Under Investing | 5 Comments

Trust Funds / Tax Advantages?

babbles asked:

What are the advantages of putting your assets into a trust fund, say with your kids names on the accounts. Can you put your house in a trust too? Do people do this for tax advantages or is it to make your assets pass to your children’s hands easier if you die?
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Filed Under Personal Finance | 1 Comment

Trust fund money in 529 plan?

Born in Bost asked:

I am a trustee for a child’s education fund. Can this money, which is held in a trust, be put into a 529 plan?

Filed Under Personal Finance | 1 Comment

What exactly is a trust-fund baby?

the fool on the hill asked:

I know it means the parents set up some kind of financial aid for the child, but what does it entail?

Filed Under Personal Finance | 1 Comment

setting up a trust fund for minors with life insurance money?

emeraldsnewlife asked:

my father has drawn up a will and he is leaving me as his executive to his estate. he has three other children right now that are all under the age of 13. (god forbid) but if something would happen to my father tomarrow how would i go about setting up trusts for my siblings?

Filed Under Insurance | 2 Comments

How can I find out if my wealthy grandparents left me a trust fund?

BonnieBodine asked:

Recently the Securities and Exchange Commission busted a trust fund manager for using funds illegally. A trust company, operating out of Reno, NV and California, sold the use of trust funds to third parties, who were allowed to invest that money and use the profit for their personal benefit. The trust funds gained no interest. My great grandparents were very rich and their wills were “lost” upon their death. A committee decided where our family assets would go, which did not include giving any money to my grandfather, only to the girls of the family whose wonderful husbands became very successful. My father’s aunt picked up my father in her personal limousine in Washington, where she and her husband have an auto parts chain. Other aunts were equally successful. The intestate committee gave us very little and our aunts had to sue them to just get the house for my grandfather in which he was living. It’s been a wonderful life, but we have had to struggle to make a meager living. How can I find out if we were taken? Also my estranged grandmother was involved in show business and moved to New York where Lucille Ball was growing up. I found her photo on the internet signed, “with love to Lucille” and my aunt, who worked for the factory in the accounting department, told me that money had been sent from Great Grandfather’s shoe sole factory to early Hollywood and I had my photo taken when I was three years old with the children of famous movie stars whose pictures are posted on the internet. So, I believe I have a substantial trust fund from my grandmother too. How can I find out? Where are trust fund recipients registered? My grandmother changed her name several times and our aunts who knew, would not tell us and are now gone. We grew up near Elvis Presley and James Brown. We moved to secluded areas which became Hilton Head, SC and Wintergreen, VA. Money seems to follow me, but I get none. Our lawyers, get very rich. Friends get very rich and abandon me. This trust fund heir is miserable. This is not the way Americans want to work, for the benefit of cults, foreigners and criminals. How can I find my trust fund?
I found a plat of my Great Grandfather’s land as divided after his death (intestate) by a committee. The aunts got parts of the land but none for my grandfather. Then I saw record of a suit brought by an aunt for my grandfather to get his home for him. This committee was going to take his home away. My Gr Grandfather owned a bank and stocks were put in a safety deposit box. All stocks were missing. Simultaneously windfalls were made by several companies with connections to my Gr Grandfather. Is there a way I can check records of activities of this committee that divided our estate (early Great Depression). No joke.

Filed Under Personal Finance | 1 Comment

is a guardian permitted to spend a childs’ trust fund before their 18th birthday? went towards MD?

jayela1 asked:

child was told 5 months after her graduation that (this person) used the trust to get their masters in college.

Filed Under Law & Ethics | 1 Comment

Would you want to live a life like in a TV soap opera?

I am 007NYC asked:

You don’t work, you’re a trust fund woman or man child who gets to wear nothing but designer clothing, eat at six star restaurants, and get blackmailed for sleeping with a married politician, who is engaged to your mother, who will cut you off financially because you were DWI, when you accidentally killed your father in the passenger seat.

Filed Under Polls & Surveys | Comments Off

Is it the legal right for a wife to have access to her husbands trust fund information?

grannygirl asked:

My husband is alive. He set up a trust when we got married 18 years ago. He has kids from a previous marriage and so do I. When he renewed the trust this year he took my children off the trust. He refuses to discuss the trust and won’t let me read it. The original trust had me as a trustee along with one of his kids. I was allowed to write checks. From listening in on conversations he is having with other people, now I cannot get married after he dies and I get $2000 a month. If I remarry, I lose it all. I have contributed to two bank accounts at $1300 a month. We bought CDs with it and are going to buy a retirement home when we stop traveling full time with the money I brought in. My husband puts $2700 in our joint account and $1900 in his trust fund monthly. He put the house he owned into the trust when we married after I signed off. He now has given it to his youngest son. Do I have a legal right to read the trust? If I die he can take all I have contributed and my kids get nothing.

Filed Under Marriage & Divorce | 3 Comments

Should the government keep tabs on child support money?

juju asked:

Maybe make sure the money goes into the child’s trust fund or something. Just to ensure the ex-wife doesnt use the “child support” to buy gucci handbags.

Filed Under Law & Ethics | 10 Comments

bonds for my children?

Elyse asked:

how do i start a trust fund or bond for my children? what is the minimum amount i must put in it? how does it all work? please help? thanks

Filed Under Investing | 3 Comments

Should a certain % of child support go into a trust fund?

alberthastings3 asked:

We all know about dead beat dads, but their are plenty of dead beat moms. Instead of child support going to mommy’s boyfriend’s-jack-daniel’s-fund, would it make more sense for a disadvantaged child to have saved money at the age of 18 that neither parent can touch for college, trade school, or whatever. Your thoughts?

Filed Under Other - Politics & Government | 4 Comments

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