0
Child trust fund accounts are used for parents looking for a long-term savings and investment account to use in your child's future. It is typically used by parents looking to save money over a period of time to afford to send their child to college.
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
Can a trust fund be used to pay for the child's school fees?
You need to review the provisions of the trust to determine how the funds can be used. Generally, a trust set up for a child allows expenditures related to educational needs.
Will a child's trust fund be used to pay parents debts?
see The Coogan Act-1939
How can the word fund be used in a sentence?
We donated to the animal trust fund.
What is mutual fund reconciliation?
Mutual fund reconciliation is a term used to describe people who are in charge of reconciling fund accounts. They handle a lot of the mutual fund operations.
What trust fund money can be used for?
It depends entirely on the terms of the trust. You should read the trust document (if there is one) or speak with the trustee.
What happens to the money between the time a worker pays into a trust fund and the time when he or she collects benefits from that fund?
The money in the trust fund is invested and some of the income is used to pay future benefits. As a result, the net value of the fund increases over time.
What is the penalty for trust fund recovery in Los Angeles California?
The cost for trust fund recovery will vary depending on the agencey used. The location ahs very little to do with the cost.
Which policies is used in estate planning to fund irrevocable trusts?
Some commonly used policies in estate planning to fund irrevocable trusts include life insurance policies, retirement accounts, and gifting strategies. These assets can be transferred into the irrevocable trust to provide financial security for beneficiaries and potentially reduce estate taxes.
What is a sentence for Fund?
I need a way to fund some future publishing.The charity fund is growing every day.
What is fiduciary fund?
A fiduciary fund is used to account for funds or assets that are held in trust by the government. These funds or assets are held for individuals or other entities.
What is unit investment trust fund?
A unit investment trust is most commonly referred to as a UIT. It refers to a portfolio in a mutual fund. They are packaged by a third party and sold to investors or proposed to potential investors by a licensed stock broker. The most commonly packaged items are stocks and bonds.
If you set up a trust fund to look after an aging parent what happens to the balance of the trust fund once the parent dies?
Once the parent dies, the balance of the trust fund depends on the terms and conditions outlined in the trust document. It can be distributed to the named beneficiaries, such as other family members or charitable organizations, or it may be specified to be used for specific purposes, such as covering funeral expenses or paying off outstanding debts. The distribution would be carried out according to the instructions provided in the trust.
