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money inherited by children

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hiddin aginda

Guest
What is the name of your state?
Louisiana

if a child is to inherit a large sum of money, can a parent put it in a trust fund fund or do they automatically have control over it at age 18? also can a grandparent have a fit parent removed from being in control over a child's money and have a trust fund set up with some one other than the parent in control of it? thanks
 


lwpat

Senior Member
"if a child is to inherit a large sum of money, can a parent put it in a trust fund fund or do they automatically have control over it at age 18"

Unless there are other terms in the will, they have control of it when they reach 18.

"also can a grandparent have a fit parent removed from being in control over a child's money and have a trust fund set up with some one other than the parent in control of it? "

This would have to be done by a court and the chances are slim to none unless there were terms in the will or problems with the parent that would not make them "fit".

Note that you are entrusted with the funds and the child can sue you if you mismanage the account.
 
H

hiddin aginda

Guest
thanks for the reply. this is a wonderful place for people to come for help. it is appreciated.
 

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