Hello, I had a trust question and thought I would ask for advice.
I have a friend in his early seventies who has a special needs child that wants to set up a trust to provide income after he passes. The child (early twenties) is on the autism scale but fairly functioning (in college now) so this is not a daily needs situation-more of a safety net and to provide long-term supplemental income.
I am going to WAG the estate will be in the 1-1.5 million range. He mentioned maybe splitting the assets between 2 companies/trusts, with a law-firm to audit annually.
I did some searching and have a few resources/websites to give him but figured this would be a great place to ask as well. I am not looking for a solution-just advice to pass to him on where he can start his due diligence.Any suggestions would be appreciated!
Gresh
I have a friend in his early seventies who has a special needs child that wants to set up a trust to provide income after he passes. The child (early twenties) is on the autism scale but fairly functioning (in college now) so this is not a daily needs situation-more of a safety net and to provide long-term supplemental income.
I am going to WAG the estate will be in the 1-1.5 million range. He mentioned maybe splitting the assets between 2 companies/trusts, with a law-firm to audit annually.
I did some searching and have a few resources/websites to give him but figured this would be a great place to ask as well. I am not looking for a solution-just advice to pass to him on where he can start his due diligence.Any suggestions would be appreciated!
Gresh