Trust Funds Explained! 💸 #trustfunds

Trust Funds Explained. #trustfunds #shorts

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[HellaBella]

Wow the thought of suing against what my parents wishes were 😬 the audacity of rich kids.

[eniotanaka]

My entire fortune of 1£ gonna be split amongst my kids

[garrymoore]

My mom established a trust fund. I was named as the will's executor. This turned out to be near genius. I had a brother who mom had documentation showing he borrowed money that he never paid back. As I sold furnishings, cars, and her house and sold back some stocks, every penny went into the trust every time I filed out any money, I doled it out evenly. My brother's amounts went right back into the trust until he had paid back the amount owed. I kept all documentation so there was never any disputes.

[junebug]

The person named charity who's been getting people's inheritance for decades:

[aspd]

To any Rich dads about to die with a pre-written will
I'm up for adoption

[joshuaford]

i saw a story where a grandma gave $1 to her least favorite grandkid so they couldnt sue saying they were forgotten

[patrickwade]

In Oregon attorneys commonly put in a clause that says if anyone disputes my wishes and costs the estate money they get nothing. Period.

[brookebryant]

The main draw towards trust funds isn’t to stop a law suit, it’s the stupidly high interest rates. At least in the UK, a trust fund is one of the highest earning forms of account you can get purely because they are inaccessible until they are of age and the account cannot be instantly withdrawn from. I think my fund is earning around 13% this year, which is honestly not a great year for it historically speaking but considering what’s going on with our economy makes sense. That and being next to untaxed is also pretty nice

[shinytomoon]

my grandmother recently passed and had money in a trust...so the way it worked out was my grandparents had 4 children but the only one still living is my aunt who had no children. she got her share but i'm one of 7 grandkids and since i'm one of 3 and my other cousins are two bro-sis duos me and my sisters' split got to be less percentage-wise but the lawyer was shocked when we mutually decided to settle it after we got our initial checks to even it out (it was easier that way). so the other 4 cousins gave the difference to me and my 2 sisters to make it even among all us 7. lawyer said he'd never seen anyone do that with inheritances? lmao. but lord no it was not millions or even hundreds of thousands of dollars. still even a few thousand extra bucks is a blessing these days

[Lifeafter]

My kids are trust babies with almost nothing on it but I don’t want them to fight if something happens to me. 😂

[Mike-ltvd]

The first line in your will should say the following
If anyone contest this will, they are out of the will. No exceptions!

[gujwdhufjijjpo]

Yep. A trust fund doesn’t necessarily mean you’re rich, but is often associated with the rich.

[aronp]

You have to be careful who you set to be in charge of the trust, I had a lengthy legal battle over some shady business with one from my grandpa

[u.m.gofficialuntitledmechg]

I split my -300k in debt to both my parents

[xeflatio]

Add a clause in the will that anyone suing the other siblings gets nothing

[carmenkanitz]

Very interesting information in the most unusual way! Thanks for the info!!

[josephhurst]

Grand Mother Put a Stipulation in her WILL with a Exclusion penalty. If ANYONE (Either the inheritant, or their Children) Contested the will, then the person they are Representing would LOOSE all rights to their portion of the Estate.

IT was as Civil as possible.

[Morden]

Guys always be careful with this kind of stuff... as a doctor who frequently sees people die or in their last moments, I'm telling you, you wouldn't believe the family fights that are caused by this kind of stuff... literally destroys families. It even happens with poor families, this is not sth that's important just for rich kids.

[evilcactus]

'And theyll be called trust fund babies!'💀

[Deerslayerr]

Bro looks like the villain from the movie up