What is a trust fund?
user
Trust funds are financial accounts that are controlled by a trustee, often in favor of the beneficiary. Often the trustee is an unrelated third party to the beneficiary.
assistant
Does someone decide who the beneficiary is?
user
Someone or a group of people decides who is a beneficiary, typically based on some predetermined criteria.
assistant
Are they generally a lot of money?
user
Depending on what they are, trust funds can be very large, or very small.
assistant
What is a trust fund?
user
Trust funds are financial accounts that are controlled by a trustee, often in favor of the beneficiary. Often the trustee is an unrelated third party to the beneficiary.
assistant
Does someone decide who the beneficiary is?
user
Someone or a group of people decides who is a beneficiary, typically based on some predetermined criteria.
assistant
Are they generally a lot of money?
user
A trust can be substantial. In some cases, a trust can be as much as $100 million dollars. But this is certainly not the norm. In fact, most trust funds are very small.
assistant
What is a trust fund?