How much to start one, what are the annual yields. Conditions when the beneficiary can cash in on the trust etc. I don't know much so if you have anything. Post it.

[Edited on August 26, 2006 at 9:05 AM. Reason : Moderator can you move my post to the Lounge, Thanks]

8/26/2006 9:04:33 AM

When you set up a trust, you can designate how you want the beneficiary to receive the money. It can be all it once in a lump sum payment when they reach are certain age, or you can space it out. For example, if a father sets up a trust for his son, he can make it so he gets half the money when he turns 21, another quarter of it at 25, and the rest at 30. You have a lot of options.

8/26/2006 4:07:44 PM

Can it be in any monetary amount, because when I think trust, I think you have to have thousands of dollars. What type of fees do you pay to open one? Does it accrue any interest?

8/26/2006 6:59:35 PM

Why not drop by a Wachovia or even one of the Credit Unions and find out all about it? And use the "Progressive Strategy." Ask them to give you interest quotes from their top 5 competitors...

8/26/2006 11:48:47 PM

One thing to know: if you want to delay access to the trust beyond age 21, that must be set up when the trust is established. you cannot change that later. If you are looking for a simple way to put away some money for college, etc. try looking at the college foundation of NC's website. they have some info.

8/27/2006 7:57:59 AM