Personal Finance and Investing

SheilaT

(23,156 posts)

3. You might want to talk to an estate attorney about this.

Tue Dec 30, 2014, 12:27 AM

Dec 2014

Perhaps you can set up some kind of a trust, money left to your grandchildren and worded so that additional grandchildren not yet born are automatically included. Then, have language that does very broadly construe education. To have funds available for summer programs could be quite wonderful.

My children had the good fortune to have well-off and generous grandparents, and as a consequence I was able to send them on some wonderful summer programs, and it was greatly appreciated. Good for you for wanting to do this.

Oh, and it is my opinion that even if your daughters' financial situations are very different from each other, do set this up so that all grandchildren benefit equally. Just my opinion here.

Edit history

Please sign in to view edit histories.

12 replies

= new reply since forum marked as read

Highlight:

A question: [View all] elleng Dec 2014 OP

This is quite a challenge, but I have some ideas. NYC_SKP Dec 2014 #1

Absolutely, SKP, elleng Dec 2014 #2

You might want to talk to an estate attorney about this. SheilaT Dec 2014 #3

Yes, surely will set up for equal benefits, elleng Dec 2014 #4

There may well be better funds. SheilaT Dec 2014 #5

Right. Right. elleng Dec 2014 #6

You should also check out your state's 529 plans lastlib Dec 2014 #7

529 plans mean within a certain state? elleng Dec 2014 #8

Here is a quick summary of 529 plans for you lastlib Dec 2014 #9

Thanks again, lib. elleng Dec 2014 #12

A 529 may be set up in any state to benefit SheilaT Dec 2014 #10

Thanks, SheilaT. elleng Dec 2014 #11