PebHmong Discussion Forum

General Category => General Discussion => Topic started by: theking on June 09, 2023, 12:24:34 AM

Title: Don't know about you guys but we did a family trust for our daughter
Post by: theking on June 09, 2023, 12:24:34 AM

(https://www.ggfl.ca/wp-content/uploads/2015/11/dreamstimemedium_33488622.jpg)

Title: Re: Don't know about you guys but we did a family trust for our daughter
Post by: Cali Guy on June 09, 2023, 01:00:41 PM

Yep, living trust instead of will.

Title: Re: Don't know about you guys but we did a family trust for our daughter
Post by: ProudLao on June 09, 2023, 06:40:53 PM

Living trust is great to turn your house to your kids to avoid taxes to them. Don’t just sign your house to them.

Title: Re: Don't know about you guys but we did a family trust for our daughter
Post by: DuMa on June 09, 2023, 07:29:41 PM

When you have kids, there are a lot of strategy involved. 

If I have kids and they are old enough to get a job, I'm starting to collect their rent but I will take that money and secretly put it into an investment portfolio for them.  Once they get married, I will surprise them and will transfer "their" money back to them so they can have a good start in their life and starting their own family. 

It is going to be my biggest kept secret yet.   :-X

Title: Re: Don't know about you guys but we did a family trust for our daughter
Post by: Believe_N_Me on June 10, 2023, 12:16:45 AM

We set one up for our investments. The guy advised that it was easier to distribute the money to the children that way than it was to list them as beneficiaries the regular way.

Title: Re: Don't know about you guys but we did a family trust for our daughter
Post by: NtsesHnub on June 11, 2023, 01:44:36 PM

The perks of being the youngest son :D