Mrs. D. BeattyTitle

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I want to know how to make a trust fund for our son?
He is our only child we have, and we own our home, and want to make sure our son gets it after we die.
Please answer as soon as possible. We don't have much money, so what's the less expensive way we can go.
Thank you
Diane
 
I want to know how to make a trust fund for our son?
He is our only child we have, and we own our home, and want to make sure our son gets it after we die.
Please answer as soon as possible. We don't have much money, so what's the less expensive way we can go.
Thank you
Diane

You probably don't need a trust, just a will.

A trust is for people who have vast holdings and huge amounts of money.

It also depends on the age of your child.

You might want to buy a book or two (or borrow them form your local library) on trusts, will, and estates.

Educate yourself, before you do anything.

Trusts are very complicated, and if they are done incorrectly, they aren't valid.

Wills, on the other hand, are relatively simple to understand and prepare.

If your son is a minor, you want to consider long and hard who you wish to be his guardian.

Before you move in that direction, have some long discussions about this matter with potential guardians.
 
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