Legal Question in Family Law in New York

Education Gift

I wish to set up something where a specific amount of money ($20,000)be made available to a named person ONLY for educational (tuition/books/lab fees) expenses. I wish to make this available to this person so she could use it while I am still alive as well as after my death until the money is exhausted


Asked on 7/13/05, 1:12 pm

3 Answers from Attorneys
John Friedman Law Office of John K. Friedman

Re: Education Gift

Sounds like a nice idea. What is your question? It can be done a number of ways but you need to be cognizant of both gift and income tax issues. A variety of trust and other forms might help.

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Answered on 7/13/05, 2:03 pm
John O'Donnell Attorney at Law

Re: Education Gift

This can easily be accomplished through the use of a trust. You should consult an attorney. Please feel free to give my office a call.

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Answered on 7/13/05, 3:24 pm
Robert Evans Robert S. Evans esq.

Re: Education Gift

This can be done by the use of a trust fund or even by the use of a specifically designed educational trust which may have some very good tax consequences. You may contact my office @ 718-834-0087 to set up a consultation.

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Answered on 7/13/05, 5:06 pm


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