MASTER TRUST FOR MINORS
A Master Trust for Minors is a quick, simple, and cost-effective solution for net recoveries of $100,000 and above. Traditional trust products can be cost-prohibitive for accounts of this size. Also, court-restricted accounts often require a judge’s order before funds can be used. This can become very tedious and expensive if there are multiple needs.
The Master Trust for Minors can be used for almost any need for the sole benefit of the minor beneficiary, who is a person under age 18 in most states. Once established, no further court intervention is required to access the funds if needed. The trust administrator reviews every request to ensure the funds are properly used.
Advantages of a Master Trust for Minors include:
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No trust attorney is needed.
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Trust can be established by court order or signature of parent or guardian on joinder.
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Simple, cost-effective solution with minimal fees.
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Distributions are for the sole benefit of client.
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The trust can be limited to health and education only to avoid reduction of food stamp benefits.
Learn more about these common types of trusts:
