The following is my
answer to a Quora question: “Is it a good idea to create a trust
fund when you are a 24-year-old?”
That really depends on what you need it for. Do you already have a high net worth, and
want to guard that legacy? Do you anticipate
accumulating significant wealth in the near future, and require a means to
mitigate your tax liability? Do you have
wealth and property, and are over-exposed in one category of assets; so, you
need a vehicle to protect your wealth from a bankruptcy petition? If not, it makes no financial sense to have
one.
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