But trust funds are most commonly set up to cover the future educational costs of children and grandchildren. They certainly are useful for that purpose, but there may be easier and less expensive ways to set aside money for them. Key Takeaways Grantors create trust funds for various purposes...
They also established education trust accounts for each grandchild, initially depositing $5,000 into each account. Their goal is to invest $2,000 per account each year until the grandchildren reach the age of majority. The funds can only be used for educational purposes. However, if the grand...