Question 1: Our eldest third son is about to enter high school in 2022. We both work full time and are looking at starting a new nest egg for the boys, approximately $5000-$10,000 each per annum while in high school. Should we look at a trust or buying the shares in their name?
In years to come I’m sure your boys will be very grateful for the nest eggswho suffered a burnout nine years ago.
Many people invest directly in the child’s name (where possible)2021-04-23T09:38:00Z, while others invest on behalf of the child using managed funds or other options where the investment is held in the adult’s name ‘as trustee for’ the childBrabeck said..
This usually results in the creation of an informal trust arrangementhe said.