Minor Trusts

Secure Your Child's Future with a Minor Trust

Establishing Financial Security for Minors

Setting up a minor’s trust can help ensure the long-term security of your child or younger loved one. These types of trusts allow you to leave your property and other assets for your child or young relative while ensuring that the trust is properly handled by a designated trustee until the child is 18 or older.

Legacy Enhancement can administer your minor's trust, providing professional management and investment with exceptional care and attention. We can assist in avoiding gift taxes, determining an age at which the trust funds may become available to your child or loved one, and guiding you throughout the process.

Schedule your free consultation with us to learn more; call (888) 988-5503 today. We are proud to serve clients across the country.

Understanding Minor Trusts: A Guide for Parents

“Trusts for minors,” or minor’s trusts, are particular types of trusts used to hold and distribute property or assets to minors. They typically provide instructions that the money or property assets will be held in trust until the minor reaches the age of majority.

A minor trust can help ensure the financial security of a young relative after you pass away. Since we cannot know how much longer we have with our loved ones, it’s in our best interest to plan for the distribution of our estates as early as possible. With a minor trust, you may leave your property and other assets to your young relative under the age of 18. The trust will help ensure your assets are correctly handled until the beneficiary is 18 or older.

Are you looking to learn how to set up a trust for a minor? Call Legacy Enhancement Trust today at  or contact us online to get started!

Top Benefits of Setting Up a Minor Trust

The benefits of a minor trust include, but are not limited to, the following:

  • You can rest assured knowing your property and financial assets will be distributed appropriately to the minor until they come of age.
  • You know that your minor’s future will be a financially stable one.
  • You can determine what will happen with the assets in the trust should the beneficiary pass away.
  • You may be able to avoid gift taxes on the trust.

It’s appropriate for people of any age to begin the estate planning process, including establishing a minor trust for young relatives. Doing so will provide peace of mind, knowing your loved one’s future is secure, even after passing away.

How Legacy Enhancement Manages Minor Trusts

Legacy Enhancement can help you through the various steps of establishing a minor's trust and assisting in the maintenance and administration of that trust. Our team specializes in establishing trusts for those living with disabilities and special needs. We offer many of the same services as large financial organizations, but we provide a level of tailored service they cannot match.

As the custodian of a minor's trust, Legacy Enhancement can:

  • Manage financial distributions for minors
  • Help determine when beneficiaries will receive funds
  • Help determine how funds will be allocated
  • Work with you to create necessary trust documents
  • Manage trust investments on your behalf
  • Assist with 2053(c) trusts to avoid gift taxes
  • Determine what will happen to the trust should the minor pass away

Learn More About Minor Trusts

 

Get Started with Your Minor Trust Today — Contact Legacy Enhancement Trust!

Commonly Asked Questions

What is a minor trust and how does it secure my child's future?

A minor trust is a legal arrangement that allows you to leave property and assets to a child or young relative, ensuring that these assets are managed by a trustee until the child reaches a specified age, typically 18 or older. This type of trust ensures that the assets are used for the child's benefit and are protected from mismanagement or misuse. By setting up a minor trust, you provide financial security for your child's future, knowing that the assets will be distributed appropriately and responsibly.

Can Legacy Enhancement help me avoid gift taxes with a minor trust?

Yes, Legacy Enhancement can assist you with setting up a 2053(c) trust, which is designed to help avoid gift taxes when transferring assets to a minor. By properly structuring the trust and managing the assets within it, Legacy Enhancement ensures that your contributions to the trust are handled in a tax-efficient manner, potentially saving you and your beneficiaries from unnecessary tax burdens.

How does Legacy Enhancement Trust manage the investments within a minor trust?

Legacy Enhancement Trust provides professional management of the investments within a minor trust. Their team works closely with you to understand your financial goals for the trust and implements a strategy that aligns with those objectives. They handle the investment of trust assets, aiming to ensure growth and stability, so that the funds are available and substantial when the beneficiary comes of age.

What happens to the assets in a minor trust if the beneficiary passes away?

In the unfortunate event that the beneficiary of a minor trust passes away, the trust document will contain instructions on how to handle the remaining assets. Legacy Enhancement Trust can help you determine these instructions during the trust creation process, ensuring that the assets are distributed according to your wishes, whether that means passing to other family members, charities, or other designated parties.

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  • Professionally managed and invested trusts
    Our staff is complete with knowledgeable professionals to make sure your investment is handled wisely.
  • Capable of handling trusts of all sizes

    Your family member or client will be cared for, no matter the size of the trust.

  • Ability to help maintain needs-based governmental assistance
    We've got the experience you need to rest easy. We know what it takes, we'll take care of the rest.
  • Low trust establishment costs and maintenance fees
    Since we are a non-profit, our only benefit is our clients success, meaning we are cost effective and won't break your bank.