25 July, 2020

Quora Answer: What Do I Do with $100,000 Trust Fund about to be Under My Control?

The following is my answer to a Quora question: “What do I do with a $100,000 trust fund about to be under my control?

I am assuming that you are young, and are about to reach the age of majority, and thus able to assume direct control of the fund, as a beneficiary.

Firstly, get a full accounting of the fund, so that you understand where the assets are parked.

Secondly, make sure you have solid financial advise regarding your investment horizon, your financial goals, and your asset weightage.  Depending on your risk profile, you may consider adjusting these to better suit your goals.

If the fund is doing reasonably well, do not liquidate it.  Trust funds also function as distinct legal entities that mitigate your taxes, and grants you protection from creditors and an acrimonious divorce.



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