Educational Trusts

A high percentage of today's college graduates are saddled with burdensome student-loan debt. And a high percentage of adults with significant assets can benefit from estate planning tools that move assets out of their estates and into nontaxable places that can benefit their loved ones in the future. One such tool is an educational trust.

An educational trust can be created to set aside some of your assets to help pay for your loved ones' future college education or graduate school expenses. I can help you understand if such a trust will be helpful to you and your family.

Helping Children And Grandchildren Avoid College Debt

At the office of Dorothea J. Kingsbury Attorney at Law, I work with northern Ohio families to set up estate plans that benefit the next generation while providing important tax benefits to members of this generation. If you think an educational trust may be right for you, let's talk. I can answer questions like:

  • When should I use an educational trust in lieu of a 529 college savings plan?
  • What happens to the trust money if it's not used for education? Can it be used for other family purposes?
  • Can I divide the trust money between multiple grandchildren or children?
  • Can I set up a trust for a young person who is not a relative?
  • Will I be able to change the structure of the trust at a later time?
  • How much can I put into an educational trust? Can I fund it after I pass away?
  • If an educational trust isn't appropriate for me, should I use another kind of trust to help my grandchildren?
  • Can an educational trust be used to cover expenses other than tuition and fees?

Every situation is different. I encourage you to explore your estate planning options with an experienced professional before making important decisions.

Contact Me To Learn More

Talk to a Cleveland-area lawyer for educational trusts. Contact me to learn more.