• November 2019
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College Education Trust






When to use College Education Trust

Saving for college is a stressful business. In fact, saving for any paid educational experience is a stressful business. The federal government and several non-profit organizations have put limited tools and resources in place designed to help those interested in saving and/or currently providing for another person’s education. However, many Americans have discovered that personally creating a college education trust is the best pathway forward for their specific needs. A college education trust may be particularly attractive to grandparents interested in providing for their grandchildren’s education, as not many widely-available resources exist to facilitate this particular goal. A college education trust can be set up to take effect during the trust creator’s lifetime or after the trust creator has passed away. It is a versatile and valuable financial asset.

Overview

If you are interested in setting up a trust designed to help pay for the college expenses of a child, grandchild or other loved one, you can use this college education trust form to begin that process. Two major benefits associated with passing along a gift in this way involve significant tax benefits and the ability to attach conditions to the distribution of the funds within the trust. For example, if you want to specify that the funds within the trust can only be used for tuition, room and board, you may do so. If you want to specify that the beneficiary of the trust can use the funds for college and/or post-graduate education, you may do so. As a result, you may want to think about any conditions and/or restrictions you would like to attach to this trust before you complete this form.

Alternative Names

Education Trust
College Trust Fund
Education Trust Fund