Legal Question in Wills and Trusts in California

trust fund

i was told we need to have at least 500,000 in liquid asset to set up a trust fund for our adult daugher. is this thrue


Asked on 1/10/09, 12:26 pm

3 Answers from Attorneys
Michael Stone Law Offices of Michael B. Stone Toll Free 1-855-USE-MIKE

Re: trust fund

No

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Answered on 1/10/09, 2:31 pm

Re: trust fund

No, NOT true.

You can set up a trust fund for any amount of money. You essentially are giving assets (can be more than just cash, i.e., real estate, stocks, etc) to another person to use for the benefit of your daughter.

There are many reasons that this may be advantageous.

Let me know if you would like to discuss your options.

Caleb

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Answered on 1/10/09, 4:25 pm
Chris Arvin Chris Arvin

Re: trust fund

No

Can be liquid, or non-liquid, and there is no dollar amount required for funding.

Please give me a call or email if I can assist you setting up,

Chris

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Answered on 1/10/09, 4:33 pm


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