Legal Question in Wills and Trusts in California

giving stock to minor children

I own some (common) stock in a privately held family corporation. I recieve SSA disability, SSI and MEDICARE and MEDICAID benefits. The corporation is considering re-filing as an S-Corporation, which in turn may causes a dividend or dividends to be paid on the common stock. This potaential income could impact the benefits I currently live on.

So, I'm looking into giving the stock to my minor children (ages 15 & 17), to be held in some sort of trust until the reack a reasonable age.

How do I go about setting this up and what will it cost? You may have guessed that I don't have a bunch of disposable income to spend on this, and my understanding is that it is not possible to sell any of it to raise cash


Asked on 1/26/07, 5:28 am

1 Answer from Attorneys
OCEAN BEACH ASSOCIATES OCEAN BEACH ASSOCIATES

Re: giving stock to minor children

You may set up an irrevocable minor's trust. I will work with you regarding payment arrangements, and may propose a small flat fee. Call me directly at 1.619.222.3504 or e-mail me.

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Answered on 1/26/07, 1:51 pm


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