Legal Question in Credit and Debt Law in Florida

You may set up a trust for your grandson. The trustee(s) (can be someone that you designate) can use the income of the trust to support the minor grandson until you think the child is competent to enough to manage the assets of the trust. The trustee is legally responsible for protecting the assets of the trust and must give a financial accounting on a yearly basis. Therefore, the risk of impropriety is slim. There are several types of trusts. You should consult with an attorney to determine the best type for what you wish to accomplish.

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