grand childs financial future?

D

Daniel

New member
as a grandparent-what can I invest in for my grandchild that is both tax-sheltered and won't hurt their financial aid eligability for college, I want something more for their future like when they turn 25 or so-not so much for college.
 
You may want to look into setting up a trust for the child. You can then create a portfolio of mutual funds, annuities, etc. that you will have control over. Just name the trust as your beneficiary. If anything happens to you, the trustee of the trust will then act according to your instructions. If you are still living when yuor grandchild turns 25, you can liquidate the assets in the portfolio and gift them to your grandchild.
 
Open a mutual fund account inside a trust. The rule for the trust is no income disbursements till age 25 or whatever you choose. You need a lawyer to set it up. I administer one for my sister, she can never touch the principle nor can it be attached to cover any debt. Done right you can control that money even after death.
 
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