Should trust funds be a common practice?

[malwins]

Or it would just spoil everybody

Updates

+1 y

I mean parents to kids

[WindAtMyBack]

What kind of trust?

If you mean a trust instead of a will, they should not be common practice. They are a waste of money for most people. It's something lawyers and others give a nice sounding sales pitch to make them sound great. But they are expensive to set up, and are not needed by the large majority of people.

[Pegases]

Yes. As a kid, I had no idea what to do with my money, so I wasted it on frivolous things. I remember I got a grant for $5,000 and I used $20 for what it was supposed to be used on, and the rest in cloths and sneakers. And I did that in a matter of days smh

[jshm2]

Depends. Mostly it's just a waste as you can invest better yourself.

[Guardian45]

If you have the money, trust funds are a great way to control money flow! Not many have that much money!

[Anonymous]

The main reason people use such tools i because they don't trust their kids with the money.

[Staximus]

They are common practice with rich people, but most people aren't that rich.

[Bklynbadboy12]

I think if you have the means to do it yeah it should be common

[Xtendable]

I still think kids need to learn the value and satisfaction of earning

[Mansearching]

If people had money to put in them

[malwins]

500$x 12 months x18 years = !!!

[malwins]

They have it

[Mansearching]

I ment to constantly put money in it.

[Mansearching]

I don't have that kind of money. I can barely pay my bills.

[exitseven]

Yes, if it could be done retroactively.

[Jennz6]

If you can afford it

[Jennz6]

Or is a trust fund like a will

[NostalgiaSenpi]

Yeah, if they can afford it.

[gorydetails]

If you have the means, sure.

[KrakenAttackin]

A trust fund isn't what you think it is.