The reality is that a trust fund kid does not necessarily live a life filled with lavish trips, designer clothes, and expensive cars — they are simply a young beneficiary of a trust.

Here are the legal tools that should be included in your estate plan and what benefits and protections each legal tool can provide.

While experiencing the joy on your grandchild’s face when they open a new doll or new race car is immeasurable, it is not uncommon to want to leave more substantial and meaningful gifts to your grandchildren.

Most parents have carefully considered what values they want to instill upon their children, but you may not realize that establishing a trust can allow you to essentially parent from beyond the grave.

There is no substitute for the guidance and support you can provide for your child. However, you may be surprised to learn that there are ways to guide them, even in your absence.

ACTEC Fellows Jonathan W. Michael and Sandra L. Perkins discuss how to transfer assets to minor children, the Uniform Transfers to Minors Act (UTMA), 529 plans, naming a caregiver for a minor child in a Will and more.

What’s the best way to leave assets to minor children? Should children receive equal assets? What’s a Pot Trust? What should be considered if my child is married? These and other questions are answered by ACTEC Fellows in this short video with Tami Conetta and Natalie M. Perry.

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