setting up a trust?
would a trust be the best option for a 10 year old child? I would like to avoid any taxation if possible.
Asked on 9/06/07, 12:03 pm
1 Answer from Attorneys
Thomas Schober
Schober Schober & Mitchell, S.C.
Re: setting up a trust?
A trust is generally the best way to deal with assets going to a child, since the person setting up the trust can control the parameters of who will administer and for what uses and when proceeds are to be distributed. If an outside trustee is used, there will be a cost, so there has to be enough in the trust to cover that cost. You should see an experienced estate planning attorney to advise you accordingly.
Answered on 9/07/07, 9:47 am
Related Questions & Answers
-
Gifted Money Is money that I receive as a gift from a parent taxable? Asked 4/19/07, 9:14 am in United States Wisconsin Tax and Taxation Law
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
