CarlRandolph
New Member
My sister is currently battling pancreatic cancer and is quickly loosing that battle. Her husband is financially irresponsible so I am looking to protect my three nephews. I would like to set up some kind of account or fund for them that I would be able to control for them without interference of their father. I would also like this account or fund to be open for people to donate to. When my sister passes I would like people to be able to donate to this fund in lieu of flowers. What type of account should I be looking into? Do I need to set up a foundation as a 501 (c) 3? What restrictions would be placed upon me as their uncle? Should there be more than one account, as there are three nephews? The nephews are ages 20, 16 and 11.
Thank you for any advice or guidance you can provide.
Thank you for any advice or guidance you can provide.